Tramford (NASDAQ:TRFDF)
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California Roadshow Planned November 1st - 4th
HONG KONG, Oct. 25 /Xinhua-PRNewswire-FirstCall/ -- Tramford International Limited (Nasdaq: TRFDF; "Tramford" or the "Company") today announced the results of its 2005 Annual Meeting, which took place last Friday, on October 21, in Hong Kong, at the Company's Headquarters.
At the meeting, Tramford shareholders re-elected all eleven incumbent nominees to the Company's Board of Directors, ratified the reappointment of PricewaterhouseCoopers as the Company's independent auditors for the year ending December 31, 2005 and approved the Company's 2005 Stock Option Plan.
Tramford shareholders also approved the acquisition of a majority 51% ownership share position of Future Solutions Development, Inc. ("FSD"), a Chinese dietary supplement and food additive producer. The Company's management expects to close the transaction by the end of this month, which will result in issuance of 2,233,800 shares of the Company's common stock, resulting in a total of 9,128,297 shares issued and outstanding after the closing. Tramford shareholders also approved the option to acquire the remaining 49% ownership position in FSD at the discretion of the Company's Board of Directors during next year, which will create another 2,146,200 shares issued for the remaining balance of FSD.
Mr. Aaron Zhu, Co-CEO of Tramford, commented, "The shareholder approval for the acquisition of FSD ( http://www.fsdbiotech.com/ ) was extremely important to our growth strategy. FSD is a leading developer of novel supplements natural extracts concentrating on bio-active ingredients of bamboo, an abundant plant with established medicinal history in China. Our entrance into the Chinese nutraceutical market, one of the fastest growing industries with growth rates exceeding 30% per year, provides us with a platform to accelerate our aggressive expansion plans, diversifies our business risk and holds great promise to improve our shareholder value."
Mr. Zhu concluded, "Following the closing of the approved transaction, we will embark on a mission to present these exciting developments to the U.S. investment community. As was previously announced, on November 1st to 4th our management will commence a California roadshow arranged by Alan Stone & Company, LLC ( http://www.alanstone.com/ ), our recently engaged investor relations advisor. During this initial trip, we will visit with investment bankers, market makers, analysts, brokers, portfolio managers and media in Beverly Hills, Los Angeles, Orange County and San Francisco."
About Tramford International Limited
Tramford International Limited is engaged primarily in providing information network security solutions in People's Republic of China. The Company's certified hardware and software products are used by numerous Chinese business enterprises, financial institutions and government agencies and have been rewarded as the leading network security solutions in China. The Company also provides information management system for port operations. With the acquisition of Future Solutions Development, Inc., which develops healthfood products utilizing bio-active components of bamboo, Tramford will enter the Chinese nutraceutical market. Tramford's major shareholder is Beijing Holdings Limited, a conglomerate with over $3 billion in total assets owned by the Beijing People's Municipal Government. For more information, please visit our website at http://www.tramford.com/ .
Forward-Looking Statement Disclosure
This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The statements regarding Tramford contained in this press release that are not historical in nature, particularly those that utilize terminology such as "may," "will," "should," "likely," "expects," "anticipates," "estimates," "believes" or "plans," or comparable terminology, are forward-looking statements. Forward-looking statements are based on current expectations and assumptions, and entail various risks and uncertainties that could cause actual results to differ materially from those expressed in such forward-looking statements. Important factors known to Tramford that cause actual results to differ materially from those expressed in such forward-looking statements are identified and discussed in Tramford's filings with the Securities and Exchange Commission.
Contact:
Tramford International Limited
Aaron Zhu, Co-CEO
Tel: +852-3112-8461
Email:
Website: http://www.tramford.com/
Alan Stone & Company, LLC
Alan Stone, Managing Director
Tel: +1-212-521-4102, +1-310-444-3940
Email:
Website: http://www.alanstone.com/
Web sites: http://www.Tramford.com
http://www.AlanStone.com
http://www.fsdbiotech.com
DATASOURCE: Tramford International Limited
CONTACT: Aaron Zhu, Co-CEO of Tramford International Limited,
+852-3112-8461, or ; Alan Stone, Managing
Director of Alan Stone & Company, LLC, for Tramford International Limited,
+1-212-521-4102, or +1-310-444-3940, or