Tramford (NASDAQ:TRFDF)
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HONG KONG, Jan. 6 /Xinhua-PRNewswire-FirstCall/ -- Tramford International Limited (Nasdaq: TRFDF; "Tramford" or the "Company") announced today that on December 22, 2005, the Company closed the transaction pursuant to the Company's exercise of the option to acquire the remaining 49% equity interest in China Natures Technology Inc. (formerly known as Future Solutions Development Inc. ("CNT")), a Chinese dietary supplement and food additive producer.
As a result of the closing of the transaction, the Company became the shareholder of 100% equity interest in CNT and the Company in return issued 2,146,200 shares of the Company's common stock of US$0.01 each to Beijing Holdings Limited. After the closing of the transaction, the Company has total outstanding 11,274,497 shares.
Tramford further announced its intent to change its corporate name to China Technology Development Group Corporation. Based on a notification received from NASDAQ officials, effective January 9, 2006, the Company will continue trading on NASDAQ Capital Market under a new symbol CTDC, which more closely reflects the Company's new name. The ticker symbol change will not otherwise affect the trading in the Company's common shares. Along with the corporate name change, the Company will also move its corporate website under a new domain at http://www.chinactdc.com/ also effective January 9, 2006.
Aaron Zhu, Co-CEO of Tramford, commented, "The new name, China Technology Development Group Corporation mirrors the direction our Company has taken in the recent past and much more closely reflects the innovative nature of our business. We expect to achieve dramatic growth during 2006 and beyond, as a result of many of the strategic initiatives implemented in the last several months."
Mr. Zhu added: "We will continue to undertake synergistic acquisitions in the future, to grow our business and enhance shareholder values. We intend to communicate with our shareholders on an ongoing basis, to keep them well informed of our Company's progress on important developments and plans."
About Tramford International
The Company is a dynamic growth company with its main portfolio business based in People's Republic of China. Headquartered in Hong Kong, the Company operates the business in Hong Kong, Beijing, and Zhejiang Province. The Company became a NASDAQ listed company in 1996, one of the very first China- based technology companies listed on NASDAQ Capital Market. The Company recently completed the acquisition of 100% interest in China Natures Technology Inc. (formerly known as Future Solutions Development Inc.), which develops ingredients for healthfood and food additive products utilizing bio- active components of bamboo, entering the fast growing Chinese nutraceutical and food supplement market. The Company'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/ or after January 9, 2006 at http://www.chinactdc.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
Emails: and after January 9, 2006
and after January 9, 2006
Web site: http://www.tramford.com/ and after January 9, 2006
http://www.chinactdc.com/
Web sites: http://www.tramford.com
http://www.chinactdc.com
DATASOURCE: Tramford International Limited
CONTACT: Aaron Zhu of Tramford International Limited, +852-3112-8461, or
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