Archive - Jun 17, 2008
Eqbal Al Yousuf Purchases $1 Million Stake in ZAP's Battery Business
Submitted by acampbell on Tue, 06/17/2008 - 15:28.
DUBAI, UNITED ARAB EMIRATES and SANTA ROSA, CA--(MARKET WIRE)--Jun 17, 2008 -- Mr. Eqbal Al Yousuf has purchased a 50 percent interest of the Recharge-It-All Battery line of battery systems for mobile electronics from alternative transportation pioneer ZAP (OTC BB:ZAAP.OB - News) for US$1 Million ($1,000,000).
Mr. Al Yousuf made the $1 million purchase personally following his announcement last week of his intentions. Eqbal Al Yousuf is the President of The Al Yousuf Group and was recently appointed Chairman of ZAP's Board of Directors.
According to officials from ZAP and Al Yousuf, samples of ZAP's Recharge-It-All technology have been shipped to Dubai for testing.
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