8K is out
RAMOIL MANAGEMENT, LTD.
ITEM 1.01 ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT.
On March 15th , 2011 (the "Closing Date"), Ramoil Management, Ltd., acquired Groupe Concorde Developments, Inc. which will be held as a wholly owned subsidiary, operating with full autonomy. Groupe Concorde Developments will remain a wholly owned subsidiary through an initial bridge financing phase and until Groupe Concorde Developments can begin to execute and realize its business plan and future revenues. Upon successful launch of the new Groupe Concorde Developments camera into the market, Groupe Concorde Developments will be rolled out or demerged as their own Public Company and Ramoil Management will retain 35% of the new Public Company Groupe Concorde Developments. With this completed, all Ramoil Management shareholders will receive dividend shares in the new public entity Groupe Concorde Developments, Inc.
ITEM 2.01 COMPLETION OF ACQUISITION OR DISPOSITION OF ASSETS.
On the Closing Date, pursuant to the terms of the Memorandum of Understanding (MOU), Ramoil Management, Inc., acquired 100% of Groupe Concorde Developments, Inc. on a temporary basis with the understanding that a full demerging and/or roll-out will occur at which point Ramoil Management, Inc. will then retain 35% of the new public company Groupe Concorde Developments, Inc. and the original shareholders of Groupe Concorde Developments, Inc. will retain the other 65%.
ITEM 5.02 DEPARTURE OF DIRECTORS OR PRINCIPAL OFFICERS; ELECTION OF DI
RECTORS; APPOINTMENT OF PRINCIPAL OFFICERS.
In accordance with the changes taking place with Ramoil Management, Inc. and the acquisitions of Groupe Concorde Development, Inc., Mr. Alex Taranu was appointed a Member of the Board of Directors of Ramoil Management, Ltd., in the position of Director and shall also remain an Officer of the fully autonomous subsidiary Groupe Concorde Development, Inc., as its President and Chief Executive Officer, effective the date of this 8-K announcement.
ITEM 9.01 EXHIBITS.
(d) Exhibits.
Exhibit No. Description
10.1 Memorandum of Understanding by and between
Ramoil Management, Ltd. and Groupe Concorde
Developments, Inc..
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this Report to be signed on its behalf by the undersigned hereunto duly authorized.
By: Michael J. Goeree
