Tramford Proposed To Acquire Bio-Technology Corporation And Convened 2005 Annual Meeting
HONG KONG, Sept. 27 /Xinhua-PRNewswire-FirstCall/ -- Tramford International Limited announced today its intended acquisition of Future Solutions Development Inc. (''FSD''), a bio-technology corporation based in the P.R. China (''China''), pending approval to be obtained at the Company's 2005 Annual Meeting of Stockholders to be held on October 21, 2005.
On September 13, 2005, Tramford entered into a sale and purchase agreement with Beijing Holdings Limited (''Beijing Holding''), the 47.18% major shareholder of Tramford, pursuant to which the Company will acquire 51% of the issued and outstanding stock of FSD from Beijing Holdings. On the same day, the Company also entered into an option agreement with Beijing Holdings to acquire the remaining issued and outstanding stock of FSD.
Chairman Changshan Zhao said, ''The management believes that along with China's tremendous economic growth, there are emerging industries positioned to become the future growth engine for the new economy. Tramford needs to seize the opportunity of entering into these emerging industries in China. The intended acquisition of FSD opens the door for the Company to venture into bio-engineering industry, which is one of the most promising industries of the new economy. This industry is expected to have high growth opportunity as well as above average return on investment.''
''The Company will carry out investment and acquisition strategy and action in emerging industries by seeking companies with ownership of leading intellectual properties, proven products, unique value proposition in the marketplace, profitable, strong management team, and growing customer base,'' added Chairman Zhao.
For further information regarding to the acquisition, please refer to the Form 6-K filed on September 26, 2005 with the Securities and Exchange Commission pursuant to the Exchange Act of 1934. Information on FSD can be found at www.fsdbiotech.com .
2005 Annual Meeting of Stockholders:
The notice convening the 2005 Annual Meeting of Stockholders of the Company (the ''Meeting'') to be held on October 21, 2005, has been dispatched to all stockholders together with the Company's 2004 Annual Report and the Proxy Statement in relation to the Meeting. The full text of the notice of the Meeting is set out in the Form 6-K filed on September 26, 2005 with the Securities and Exchange Commission.
For further information, please contact: Tramford International Limited Tel: 011-852-31128461 Fax: 011-852-31128410 Email: investor.relations@tramford.cominfo@tramford.com Website: www.tramford.com
Tramford International LimitedCONTACT: 011-852-31128461, or fax, 011-852-31128410, orinvestor.relations@tramford.com, or info@tramford.com, for TramfordInternational Limited
Web site: http://www.tramford.com/