Holders Technology PLC
12 April 2006
Holders Technology plc
Increase in investment
Holders Technology plc announces that it has increased its stake in its Hong
Kong based subsidiary, Topgrow Technologies Limited (Topgrow), from 60% to 70%
by the purchase, for £55,000, of the shares and loans currently held by another
shareholder.
Topgrow's core business is selling materials to Chinese based PCB manufacturers.
Topgrow also has a 60% owned subsidiary, Waysky Technology Limited, which
sells solder mask to the PCB industry, and a 40% stake in the sub-contract
drilling provider, Sino Pacific Limited. Topgrow is in the process of forming a
new Wholly Owned Foreign Enterprise (WOFE) in the Huanan region of China, which
should enable the company to expand its trade with the electronics industry in
southern China. The establishment of the WOFE has been subject to
administrative delays. It is now expected that the company will be registered by
31 May 2006.
In the year to 30 November 2005, the Topgrow group had a turnover of HKD 12.1
million (£845,000) and recorded a loss before tax of HKD 29,000 (£2,000). As at
30 November 2005 Topgrow had shareholders' funds of HKD 6.4 million (£478,000).
It is not expected that this transaction will have a material effect on group
earnings in the year to 30 November 2006.
Enquiries:
Jim Shawyer
Group Finance Director
Holders Technology plc
Tel: +44 (0) 20 8731 4336
This information is provided by RNS
The company news service from the London Stock Exchange
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