Indicative size of the placement shares
The strategic partnership may involve issuance of new shares of up to 20-30% of the existing issued and paid up share capital of Cocoaland to the potential partners.
Stage of negotiation with the potential partners
The Company is in final stages of negotiation with the potential partners. One of the potential partners may commence due diligence exercise on Cocoaland as early as next week.
Expected finalisation date of the negotiation
The negotiation is expected of complete by end of August 2010.
Further elaboration on how the placement of new shares would help to broaden the Company’s growth
The potential partners would help to broaden Cocoaland’s growth in terms of its product and market development and to strengthen its market position.
This announcement is dated 22 July 2010.
