KING PACIFIC<0072> - Announcement
The Stock Exchange of Hong Kong Limited takes no responsibility for the
contents of this announcement, makes no representation as to its accuracy
or completeness and expressly disclaims any liability whatsoever, for any
loss howsoever arising from or in reliance upon the whole or any part of
the contents of this announcement.
KING PACIFIC INTERNATIONAL HOLDINGS LIMITED
(Incorporated in Bermuda with limited liability)
ANNOUNCEMENT
Further to the Company's announcement dated 17th February, 2000, the Board
has noted a further increase in trading volume of the shares of the
Company on 18th February, 2000. Save as announced herein, the Board is not
aware of any matter that might have resulted in the increase.
RECENT INCREASE IN TRADING VOLUME OF SHARES
This statement is made at the request of The Stock Exchange of Hong Kong
Limited.
Further to the Company's announcement dated 17th February, 200, the Board
has noted a further increase in trading volume of the shares of the
Company on 18th February, 2000.
APPOINTMENT OF DIRECTOR
At a meeting of the Board on 11th February, 2000, Dr. Charles W.B. Cheung
J.P. was appointed as an independent non-executive director of the
Company. Mr. Cheng Chao Ming, Jenson, Mr. Xiong Pingbo, Paul, Mr. Cheung
Kung Tai, Ms. Cheung Lik Ping, Mr. Zeng Xiang Zhi and Mr. Ching Kwok Leung
voted in favour of the resolution approving this appointment while Mr.
Cheung Wing Keung, Samuel voted against the resolution. At the time this
resolution was passed, Mr. Cheung Yiu Wing had already left the meeting
and therefore did not cast his vote on this resolution. Dr. Charles W.B.
Cheung J.P. accepted the appointment on 18th February, 2000.
Mr. Chuang Shih Ping, Mr. Lee Sheung Wah, James and Mr. Steven Kwan were
absent from the meeting.
DATE OF ACCEPTANCE OF THE APPOINTMENT OF DIRECTORS
Referring to the Company's announcement dated 17th February, 2000, the
Board wish to clarify that Mr. Chen Vee Yong, Frederick and Mr. Hui Yat
On, Kelvin accepted the appointment as executive directors of the Company
on 17th February, 2000.
EXISTING BOARD COMPOSITION
As of today, the composition of executive directors and independent
non-executive directors of the Board are summarised as below:
Executive directors
Mr. Cheng Chao Ming, Jenson Mr. Cheung Yiu Wing
Mr. Cheung Kung Tai Mr. Zeng Xiang Zhi
Mr. Cheung Wing Keung, Samuel Mr. Ching Kwok Leung
Mr. Xiong Pingbo, Paul Ms. Cheung Lik Ping
Mr. Chen Vee Yong, Frederick Mr. Hui Yat On, Kelvin
Independent non-executive directors
Dr. Charles W.B. Cheung J.P.
Mr. Steven Kwan
Mr. Lee Sheung Wah, James
DIRECTORS DEALINGS
As far as the Board is aware, none of the directors have purchased or sold
shares of the Company today, and none of the directors' shares of the
Company which have been pledged have been sold in the market today.
OTHER DISCLOSEABLE INFORMATION
With regards to a number of issues raised in the announcement of the
Company dated 10th February, 2000, a Board meeting will be held on 21st
February, 2000 to address those issues. The Company will make further
announcements to update shareholders with further announcement on and when
necessary.
APPROVAL OF THIS ANNOUNCEMENT
The publication of this announcement has been approved by Ms. Cheung Lik
Ping. Mr. Cheung Kung Tai, Mr. Cheng Chao Ming, Jenson. Mr. Zeng Xiang
Zhi, Mr. Ching Kwok Leung, Mr. Xiong Pingbo, Paul, Mr. Chen Vee Young,
Frederick, Mr. Hui Yat On, Kelvin and Dr. Charles W.B. Cheung J.P.. Each
of the directors of the Company who approved this announcement take
responsibility for the accuracy of this announcement. Mr. Cheung Yiu Wing,
Mr. Cheung Wing Keung, Samuel, Mr. Lee Sheung Wah, James and Mr. Steven
Kwan were not contactable for the approval of this announcement prior to
the time of printing.
The Board confirms that other than as disclosed above, there are no
negotiation 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 matters 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 order of the board
Xiong Pingbo, Paul
Director
Hong Kong, 19th February, 2000
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