HANDAL RESOURCES BERHAD (“HANDAL” OR THE “COMPANY”) - PROPOSED ACQUISITION OF THE USE OF THE INTELLECTUAL PROPERTY RIGHTS OF THE “SEACRANE” OFFSHORE PEDESTAL CRANE PRODUCT LINE (WHICH INCLUDES THE “SEACRANE” TRADEMARK) IN ASIA, AFRICA, EUROPE AND OTHER COUNTRIES (APART FROM THOSE LOCATED IN NORTH AMERICA AND SOUTH AMERICA) BY HANDAL OFFSHORE SERVICES SDN BHD ("HOSSB"), A WHOLLY-OWNED SUBSIDIARY OF HANDAL, FOR A CASH CONSIDERATION OF UNITED STATES DOLLAR THREE MILLION SEVEN HUNDRED AND FIFTY THOUSAND (USD3,750,000) (“PROPOSED ACQUISITION”)

HANDAL RESOURCES BERHAD

TypeAnnouncement
SubjectHANDAL RESOURCES BERHAD (“HANDAL” OR THE “COMPANY”)
- PROPOSED ACQUISITION OF THE USE OF THE INTELLECTUAL PROPERTY RIGHTS OF THE “SEACRANE” OFFSHORE PEDESTAL CRANE PRODUCT LINE (WHICH INCLUDES THE “SEACRANE” TRADEMARK) IN ASIA, AFRICA, EUROPE AND OTHER COUNTRIES (APART FROM THOSE LOCATED IN NORTH AMERICA AND SOUTH AMERICA) BY HANDAL OFFSHORE SERVICES SDN BHD ("HOSSB"), A WHOLLY-OWNED SUBSIDIARY OF HANDAL, FOR A CASH CONSIDERATION OF UNITED STATES DOLLAR THREE MILLION SEVEN HUNDRED AND FIFTY THOUSAND (USD3,750,000) (“PROPOSED ACQUISITION”)
ContentsThe Board of Directors of HRB (“Board”) wishes to announce that the Company’s wholly-owned subsidiary, HOSSB, has on 14 February 2011 entered into a sharing of intellectual property rights agreement (“Sharing of IP Rights Agreement”) with Excell Crane & Hydraulics Inc.

The details for the Proposed Acquisition is set out in the attachment below.

This announcement is dated 14 February 2011.


Announcement Info

Company NameHANDAL RESOURCES BERHAD  
Stock Name HANDAL    
Date Announced14 Feb 2011  
CategoryGeneral Announcement
Reference NoCA-110214-58929