GICE Security Ltd Acquires Financial Services Company Total Sovereign Holdings Limited

GICE Security Ltd has acquired financial services company Total Sovereign Holdings Limited in a strategic move. With it comes a portfolio investment of a few Australian blue-chip publicly listed technology companies.

Singapore (PRWEB) September 9, 2006 -- GICE Security Ltd. announced today that it has concluded the acquisition of financial services company Total Sovereign Holdings Ltd. (TSH). With this acquisition, GICE Security Ltd would increase its current assets portfolio to reflect the Company's current net position.

TSH will now become a subsidiary of GICE Security Ltd. A new board of directors have been appointed in addition to the existing directors. Coming on would be Dr. Leonard Fernando and Ms. Grace Tan. TSH currently holds a shares portfolio of Australian blue chip publicly listed security and technology companies. This acquisition comes in the wake of its position as financial advisers for GICE Security Ltd in exchange for a 10 year financial bond (AAA) issue by AIG Insurance Group and the underwriting cover for GICE Security's recently issued third edition of warrants.

This strategy gives GICE Security Ltd several strong options to list it's flagship, and alternatively, both its subsidiaries, GICE Research Ltd and/or TSH International Group. In the present transaction GICE has sold off EPS Marketing, its special aviation segment business, to a major avionics company from Canada, which is currently under final negotiations (and a one time client of TSH.) The EPS business represented aerial security and surveillance systems, remote sensing and aerial mapping.

Dr. Leonard Fernando, President of GICE Security Ltd, said, "This acquisition will now clear the way for some major expansion and strategic partnerships with one of the world's leading defense and security manufacturer of bomb and bullet proof hybrid ballistic glass." In the pipeline will be the introduction of various state-of-the-art bullet proof vests and ballistic protection aids for armed forces and law enforcement personnel.

With this acquisition, GICE Security Ltd is now offering its institutional shareholders and investors a strong market driven and dynamic company, which is now poised for a strong IPO path. New board members to the board of GICE Security Ltd will be announced shortly.

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