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Circular/Notice to Shareholders

GRAND-FLO SOLUTION BERHAD

SubjectCIRCULAR TO SHAREHOLDERS IN RELATION TO:-

THE PROPOSED ACQUISITION OF 100% EQUITY INTEREST IN CL SOLUTIONS (CHINA) LIMITED, A COMPANY INCORPORATED IN HONG KONG, BY GRAND-FLO SOLUTION BERHAD ("GRAND-FLO") FROM CL SOLUTIONS SERVICES LIMITED ("VENDOR") PURSUANT TO A CONDITIONAL SHARE ACQUISITION AGREEMENT DATED 10 SEPTEMBER 2008 ("SAA") FOR AN AGGREGATE CONSIDERATION OF HKD25.00 MILLION (EQUIVALENT TO APPROXIMATELY RM10.64 MILLION BASED ON THE EXCHANGE RATE OF RM1.00 : HKD2.350 AS AT 9 SEPTEMBER 2008, BEING THE DATE IMMEDIATELY PRECEDING THE SAA DATE) TO HE SATISFIED IN THE
FOLLOWING MANNER:-

(I) HKD13.75 MILLION (EQUIVALENT TO APPROXIMATELY RM5.85 MILLION BASED ON THE EXCHANGE RATE OF RM1.00 : HKD2.350 AS AT 9 SEPTEMBER 2008) IN THE FORM OF CASH; AND

(II) THE BALANCE HKD11.25 MILLION (EQUIVALENT TO APPROXIMATELY RM4.79 MILLION BASED ON THE EXCHANGE RATE OF RM1.00 : HKD2.350 AS AT 9 SEPTEMBER 2008) VIA THE ISSUE AND ALLOTMENT OF 11,398,176 NEW ORDINARY SHARES OF RM0.10 EACH IN GRAND-FLO TO THE VENDOR AT AN ISSUE PRICE OF RM0.42 EACH
Content


Announcement Info

Company NameGRAND-FLO SOLUTION BERHAD (MESDAQ Market) 
Stock Name GRANFLO    
Date Announced5 Feb 2009  
CategoryDocument Receipt
Reference NoGR-090205-37000



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