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Kwong Hing International Holdings (Bermuda) Limited
廣興國際控股有限公司 *
(Incorporated
in Bermuda with limited liability)
ANNOUNCEMENT
The Company announces that it has on 31st December, 2002 terminated the agreement entered into on 25th November, 2002 in relation to the conditional acquisition by ATX from Mr. Lee Tao Kuang of an approximately 9.80% interest in the issued share capital of Yakudo.
Shareholders
and investors are advised to exercise caution when dealing in the shares of the
Company.
Reference is made to the announcement dated 26th November, 2002 made by the Company with respect to the conditional acquisition by ATX from Mr. Lee Tao Kuang of an approximately 9.80% interest in the issued share capital of Yakudo, which constitutes a share transaction for the Company under the Listing Rules (the “Announcement”). Unless the context otherwise requires, capitalised terms used herein shall have the same meanings as those defined in the Announcement.
Pursuant to the terms of the Agreement, all the Conditions were to be fulfilled by 5:00 p.m. on the Longstop Date, being 31st December, 2002. As certain Conditions have not been satisfied by the Longstop Date, the Company has terminated the Agreement on 31st December, 2002. The Company confirms that there is no material financial impact to the Company as a result of such termination.
Shareholders and investors are advised to
exercise caution when dealing in the shares of the Company.
By order of the board of directors of
Kwong Hing International Holdings (Bermuda) Limited
Li Man Ching
Chairman
Hong Kong, 31st December, 2002
* for identification purpose only
Please also refer to the published version of this announcement in The Standard dated 2 January 2003.