|The Board announces that 230 valid acceptances for provisional allotment of Rights Shares have been received for a total of 118,531,769 Rights Shares and 177 valid applications for excess Rights Shares have been received for a total of 43,096,491 Rights Shares, resulting in total valid applications for 161,628,260 Rights Shares which represent approximately 117.85% of the total number of 137,148,746 Rights Shares available under the Rights Issue.
The Rights Issue and the Underwriting Agreement have become unconditional after 4:00 p.m. on Thursday, 14 March 2002.
Terms used in this announcement shall have the same meanings as defined in the prospectus of the Company dated 22 February 2002 unless otherwise stated.
RESULTS OF RIGHTS ISSUE
The Board announces that as at 4:00 pm on Tuesday, 12 March 2002, being the latest time for acceptance of and payment for Rights Shares, 230 valid acceptances for provisional allotment of Rights Shares have been received for a total of 118,531,769 Rights Shares and 177 valid applications for excess Rights Shares have been received for a total of 43,096,491 Rights Shares. Accordingly, total valid applications for 161,628,260 Rights Shares have been received, representing approximately 117.85% of the total number of 137,148,746 Rights Shares available under the Rights Issue.
The Directors have resolved to allot 18,616,977 Rights Shares available for excess application on the following basis:
The Major Shareholder, as at the latest date of acceptance of the Rights Issue, was legally and beneficially interested in an aggregate of 172,961,250 Shares, representing approximately 63.06% of the then issued share capital of the Company. The Major Shareholder has taken up his provisional allotment of 86,480,625 Rights Shares under the Rights Issue, and has confirmed that neither he nor any of his associates has applied for any excess Rights Shares. Accordingly, the shareholding of the Major Shareholder in the Company remains unchanged after the Rights Issue.
The Rights Issue and the Underwriting Agreement have become unconditional after 4:00 pm on Thursday, 14 March 2002.
DESPATCH OF CERTIFICATES FOR RIGHTS SHARES AND REFUND CHEQUES AND COMMENCEMENT OF DEALINGS
It is expected that refund cheques in respect of partially unsuccessful applications for excess Rights Shares and share certificates in respect of the fully-paid Rights Shares will be despatched to those entitled thereto at their own risk by ordinary post on Monday, 18 March 2002.
Dealings in the Rights Shares, in their fully-paid form, are expected to commence on Wednesday, 20 March 2002.
By Order of the Board
Law Ka Sing
Hong Kong, 14 March 2002
Please also refer to the published version of this announcement in the Hong Kong iMail and Hong Kong Economic Times.
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