![]() YAU LEE HOLDINGS LIMITED (Incorporated in Bermuda with limited liability) |
ALL FINE INVESTMENT COMPANY LIMITED (Incorporated in the Cook Islands with limited liability) |
JOINT ANNOUNCEMENT
CONDITIONAL MANDATORY CASH OFFERS
by ICEA CAPITAL LIMITED
on behalf of
ALL FINE INVESTMENT COMPANY LIMITED
for acquiring all the issued shares in,
and cancelling all outstanding options granted by,
YAU LEE HOLDINGS LIMITED
(other than those already owned or held
by All Fine Investment Company Limited
or parties acting in concert with it)
A composite document dated 26th January, 2000 (the "Composite Document"), together with the form of acceptance and transfer, containing details of the Share Offer, was despatched to each of the Independent Shareholders on 26th January, 2000. The Composite Document was also despatched to each of the Independent Optionholders on 26th January, 2000. The form of acceptance and renunciation, containing details of the Option Offer, can be obtained by the Independent Optionholders starting from 26th January, 2000 at the principal place of business of Yau Lee Holdings Limited (the "Company") in Hong Kong at 10th Floor, Tower I, Enterprise Square, 9 Sheung Yuet Road, Kowloon Bay, Kowloon, Hong Kong.
Independent Shareholders and Independent Optionholders are strongly advised to read carefully the letter from the Independent Board Committee and the advice of Pacific Challenge Capital Limited ("Pacific Challenge"), the independent financial adviser to the Independent Board Committee, before deciding whether or not to accept the Offers. The pro forma statement of adjusted unaudited consolidated net tangible assets of the Company and its subsidiaries (together the "Group") was contained in the Composite Document. |
Unless otherwise stated, terms used in this announcement shall have the same meanings as those defined in the Composite Document.
Reference is made to the announcement dated 5th January, 2000 jointly made by All Fine Investment Company Limited (the "Offeror") and the Company in relation to, inter alia, the Offers.
The respective boards of directors of the Company and the Offeror wish to announce that the Composite Document, together with the form of acceptance and transfer, containing details of the Share Offer, was despatched to each of the Independent Shareholders on 26th January, 2000. The Composite Document was also despatched to each of the Independent Optionholders on 26th January, 2000. The form of acceptance and renunciation, containing details of the Option Offer, can be obtained by the Independent Optionholders starting from 26th January, 2000 at the principal place of business of the Company in Hong Kong at 10th Floor, Tower I, Enterprise Square, 9 Sheung Yuet Road, Kowloon Bay, Kowloon, Hong Kong.
Independent Shareholders and Independent Optionholders are strongly advised to read carefully the letter from the Independent Board Committee and the advice of Pacific Challenge, the independent financial adviser to the Independent Board Committee, before deciding whether or not to accept the Offers.
In addition to the information referred to above, the Composite Document contains certain financial information in relation to the Group which has not previously been released to the shareholders of the Company or the public. Accordingly, in accordance with the general obligations of the Company under paragraph 2 of its listing agreement with The Stock Exchange of Hong Kong Limited, such financial information is reproduced below:-
Pro forma statement of adjusted unaudited consolidated net tangible assets of the Group
The following statement contains unaudited results of the Group for the six months ended 30th September, 1999 based on the unaudited interim report of the Group and may be subject to adjustments upon audit and/or changes as a result of any subsequent events which may arise after the Latest Practicable Date:-
HK$'000 Audited consolidated net assets of the Group as at 31st March, 1999 518,973 Intangible assets as at 31st March, 1999 (5,076) --------- 513,897 Unaudited consolidated results (being the profit attributable to Shareholders for the six months ended 30th September, 1999) 11,465 Net proceeds from the Rights Issue 61,000 Estimated expenses for the Offers (1,500) --------- Pro forma unaudited adjusted consolidated net tangible assets of the Group after the Offers 584,862 ========= Pro forma unaudited adjusted consolidated net tangible assets per Share based on 1,770,984,402 Shares in issue as at the Latest Practicable Date HK$0.3302 =========
By Order of the Board Yau Lee Holdings Limited Chui Man Lung, Everett Company Secretary |
By Order of the Board All Fine Investment Company Limited Wong Ip Kuen Director |
Hong Kong, 26th January, 2000
The directors of the Offeror jointly and severally accept full responsibility for the accuracy of the information contained in this announcement other than the information relating to the Group and confirm, after having made all reasonable inquiries, that to the best of their knowledge, opinions expressed in this announcement other than the information relating to the Group have been arrived at after due and careful consideration and there are no other material facts not contained in this announcement, the omission of which would make any statement in this announcement misleading other than the information relating to the Group.
The directors of the Company jointly and severally accept full responsibility for the accuracy of the information contained in this announcement other than the information relating to the Offeror and confirm, after having made all reasonable inquiries, that to the best of their knowledge, opinions expressed in this announcement other than the information relating to the Offeror have been arrived at after due and careful consideration and there are no other material facts not contained in this announcement, the omission of which would make any statement in this announcement misleading other than the information relating to the Offeror.
© Copyright 1996-2025 irasia.com Ltd. All rights reserved. |
DISCLAIMER: irasia.com Ltd makes no guarantee as to the accuracy or completeness of any
information provided on this website. Under no circumstances shall irasia.com Ltd be liable
for damages resulting from the use of the information provided on this website.
TRADEMARK & COPYRIGHT: All intellectual property rights subsisting in the contents of this website belong to irasia.com Ltd or have been lawfully licensed to irasia.com Ltd for use on this website. All rights under applicable laws are hereby reserved. Reproduction of this website in whole or in part without the express written permission of irasia.com Ltd is strictly prohibited. TERMS OF USE: Please read the Terms of Use governing the use of our website. |