|Acquisitions and Disposals||
|Description||The Board of Directors of Yongmao Holdings Limited (the "Company") wishes to announce that the Company has incorporated a wholly-owned subsidiary in Hong Kong known as Yongmao Machinery (H.K.) Company Limited. ("Yongmao HK").
The issued and paid up capital of Yongmao HK is HKD2,000,000 consisting of 2,000,000 ordinary shares of HKD1 each. The principal activities of Yongmao HK are those of sales, distribution, rental and servicing of towercranes, construction machinery and related components.
The above transaction is not expected to have any material impact on the net tangible assets and earnings per share of the Company and the Group for the current financial year ending 31 March 2011.
None of the directors or controlling shareholders has any direct or indirect interest in the aforesaid transaction.
By Order of the Board
Yongmao Holdings Limited
Tian Ruo Nan
5 January 2011