GMO Gmo

RNS Number:8656P
GMO Limited
22 January 2007


Press Release                                                   22 January 2007

                                  GMO Limited
                             ("GMO" or the "Group")



Proposed acquisition of 20% equity interest in Wisdom Choice Investments Ltd. 
                            ("Proposed Acquisition")





We refer to our announcement dated 29th September and 15th November 2006 in
relation to the Proposed Acquisition.



GMO Limited (AiM:GMO), a leading provider of proprietary wireless value-added
services ("WVAS") currently focused  on China, is pleased to confirm that all
the conditions precedent in the Shares Sale Agreement dated 29th September 2006
have been fulfilled. The remaining consideration (net of the $5m deposit already
paid) has been funded via internally generated funds and the issuance of
Murabahah loan notes arranged in accordance with Islamic principles in respect
of a total amount of US$ 20,235,100.



The Proposed Acquisition will be completed on 22 January 2007.



The subscribers of the Murabahah loan notes comprise, amongst others, Green
Packet Berhad, mTouche Technology Berhad, OSK Ventures International Berhad,
(each of which is a substantial shareholder within the meaning of the AIM Rules)
and Eugene Goh, Chief Executive. The loan notes will be redeemed by GMO two
years from the date of issue and may be redeemed earlier at GMO's option.



GMO has consulted with Corporate Synergy Plc, its Nominated Adviser and the
directors of GMO confirm that in their view, the terms of the loan notes are
fair and reasonable insofar as GMO's shareholders are concerned.



GMO has an option to acquire the remaining 80 per cent shares in Wisdom Choice
Investments Ltd which, on completion of this transaction it does not already own
and which it may exercise at any time on or before 15 February 2007.



For further information:
GMO Limited
Eugene Goh, Chief Executive Officer                   Tel: + (0)7786 787 005
eugene@gmoglobal.com                                  www.gmoglobal.com


Corporate Synergy Plc
John Wakefield / Mike Coe, Corporate Finance          Tel: +44 (0) 117 933 0020
Jwakefield@corporatesynergy.co.uk                     www.corporatesynergy.co.uk



Media enquiries:
Abchurch
Henry Harrison-Topham / Chris Lane                    Tel: +44 (0) 20 7398 7700
henry.ht@abchurch-group.com                           www.abchurch-group.com




                      This information is provided by RNS
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