E&E INT'L<0033> - Exceptional Price & Turnover Movements
The Stock Exchange has received a message from Elec & Eltek International
Holdings Limited which is reproduced as follows:-
"This statement is made at the request of The Stock Exchange of Hong Kong
Limited.
We have noted the recent surge in the share price and the increase in
trading volume of the shares of the Company and wish to state that we are
not aware of any reasons for such increases, except for the matters
referred to in the announcements published on 13th and 18th December 1999
respectively in relation to the proposed disposal of the printed circuit
board business by Elec & Eltek International Company Limited , an
associate company of the Company listed on the Singapore Stock Exchange,
and that the due diligence investigation undertaken by the Investor and
its advisors for the proposed disposal is still on going for the time
being.
We wish to emphasize that there is no assurance that the proposed disposal
will proceed and no agreement for the sale and purchase of the business
has been entered into between the Investor and Elec & Eltek International
Company Limited.
Save for the above, we also confirm that there are no negotiations or
agreements relating to intended acquisitions or realisations which are
discloseable under paragraph 3 of the Listing Agreement, neither is the
Board aware of any matter discloseable under the general obligation
imposed by paragraph 2 of the Listing Agreement, which is or may be of a
price-sensitive nature.
Made by the order of the Board of Elec & Eltek International Holdings
Limited the directors of which individually and jointly accept
responsibility for the accuracy of this statement.
For and on behalf of
Elec & Eltek International Holdings Limited
Canice Chung
Director
February 3, 2000"
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