12/18/2009
Orlando, FL - Royal Style Design, Inc. (OTCBB: RYSD) announced today that it has signed a Letter of Intent with three companies Kuechen Schilling Gmbh, Fregat Ltd and Bauelemente Kuhn Gmbh. The company is also changing to a larger accounting firm capable of handling our international subsidiaries.
Kuechen Schilling GmbH is a German custom kitchen design and installation Company. They offer a wide range of high quality, traditional and contemporary kitchen components which are custom assembled to order.
Fregat Ltd is one of the largest suppliers of electronic components, electromechanical and automation devices in Russia.
Bauelemente Kuhn Gmbh is a German construction company that supplies builders, developers, wholesalers and retail client’s economical solutions for both residential and commercial projects.
Under the terms of the Letter of Intent, the companies agree to negotiate the purchase of all the outstanding shares of Kuechen Schilling Gmbh, Fregat Ltd and Bauelemente Kuhn Gmbh by Royal Style Design and it details the conditions for the mutual exchange of information.
If the companies can come to terms, all three would be acquired in December. Richard Lloyd CEO of Royal Style Design and Diversified Global Holdings said that the company is currently seeking acquisitions and thinks these companies would fit nicely into the company’s portfolio and integrate well with its current subsidiaries.
We are also changing our accounting firm to Madsen & Associates, which is a larger firm due to our increasing international exposure. We had no problems with the previous firm but needed a larger firm to stay ahead of our upcoming growth. The reports on the Company's financial statements did not contain any adverse opinions or disclaimer of opinion in audit scope or accounting principles during any period of time.
For more information, contact:
Richard Lloyd
(407) 402-1022
800 N. Magnolia Avenue
Suite 105
Orlando, FL 32803
USA
Tel: 407-843-3344
Fax: 407-843-2344
www.dghold.com