Adjustment to the Structure of Group.
Giant Dragon has transferred all its participation on Shaoxing Sanding (WFOE) to Toolux Sanding SA. The transaction was performed and effective on 24th December 2008, which day the parties were entered into a share transfer agreement, and two days later 26th December 2008, local authority has sent the approval.
After this adjustment, Toolux Sanding SA has held 100% shares of Shaoxing Sanding Tools Co., Ltd, the process of registration on local government is completely done.
Tomorrow will be the first day of 2009, then happy new year!
|
