Dransfield Holdings has proposed a merger and spin-off which may result in the creation of subsidiary Dransfield China Paper Corp listing on the Nasdaq stock market in the United States.
The company said a conditional agreement was entered into between wholly owned Dransfield Paper Holdings and shell firm Supercorp Inc, which provided the means through its shareholder base for a company to obtain a public market for its securities.
King & Assoc will be the financial consultant for the issue. Details of the agreement have yet to be negotiated and finalised.
Dransfield said Dransfield Paper might, at its discretion, abandon the proposed merger and spin-off at any time provided it paid all fees earned and all expenses incurred by King, Supercorp or Dransfield China.