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
The Company has entered into the Second Supplemental Agreements on 31st
March, 2000 amending respectively the Acquistion Agreement and the
Subscription Agreement by extending the Condition Date to 30th April,
2000.
Further announcements will be issued to update shareholders in relation to
the Acquisition Agreement and the Subscription Agreement as and when
necessary.
extention of the acquisition agreement and the subscription
agreement
The directors of King Pacific International Holdings Limited (the
``Company'') refers to the announcements of the Company dated 8th January,
2000 and 29th February, 2000 (the ``Announcements'') in relation to the
conditional sale and purchase agreement dated 3rd January, 2000
(``Acquisition Agreement'') entered into by the Company for the purchase
of 12.865% of the issued share capital of Plexus Multimedia Pte
Limited (``Plexus'') and the conditional subscription agreement dated 3rd
January, 2000 relating to the subscription of shares of the Company by
Inner City Profits Limited (``Subscription Agreement'') and two
supplemental agreements signed between the Company and respective parties
of the Acqusition Agreement and the Subscription Agreement on 29th
February, 2000 for the extension of the Conditions Date to 31st
March, 2000 (``First Supplemental Agreements''). For details
of the Acquisition Agreements, the Subscription Agreement and
the First Supplemental Agreements, shareholders should refer
to the Announcements.
As set out in the Announcements, both the Acquisition Agreement and the
Subscription Agreement are subject to conditions set out therein being
fulfilled by 29th February, 2000 (``Condition Date'') and the Company has
entered into the First Supplemental Agreements with the respective parties
on 29th February, 2000 to extend the Condition Date to 31st March, 2000.
The directors of the Company wish to announce that on 31st March,
2000, the Company has entered into two supplemental agreements
with the respective parties of the Acquisition Agreement and
the Subscription Agreement amending the respective terms of
each of the Acquisition Agreement and the Subscription
Agreement by extending the Condition Date to 30th April, 2000
(``Second Supplemental Agreements'').
A resolution approving and rectifying the Second Supplemental
Agreements was passed at a Board meeting held on 5th April,
2000 (``the Meeting''). Mr. Chen Vee Yong, Frederick and Mr.
Hui Yat On, Kelvin voted in favour of the resolution while Mr.
Cheung Yiu Wing, Mr. Cheung Wing Keung, Samuel, Dr. Charles
W.B. Cheung J.P. and Ms. Amelia O.M. Cheung were presented at
the Meeting but abstained from voting on the resolution.
Mr. Cheng Chao Ming, Jenson, Mr. Xiong Pingbo, Paul, Mr. Cheung
Kung Tai, Ms. Cheung Lik Ping, Mr. Zeng Xiang Zhi, Mr. Ching
Kwok Leung and Mr. Gao Zong Ze were absent from the Meeting.
approval of this announcement
The publication of this announcement has been approved by Mr.
Cheng Chao Ming, Jenson, Mr. Cheung Kung Tai, Mr. Cheung Yiu
Wing, Mr. Cheung Wing Keung, Samuel, Mr. Ching Kwok Leung, Mr.
Xiong Pingbo, Paul, Mr. Chen Vee Yong, Frederick, Mr. Hui Yat
On, Kelvin, Dr. Charles W.B. Cheung J.P. and Ms. Amelia O.M.
Cheung. Each of the directors of the Company who approved this
announcement take responsibility for the accuracy of this
announcement. Mr. Zeng Xiang Zhi, Ms. Cheung Lik Ping and Mr.
Gao Zong Ze were not contactable for the approval of this
announcement prior to the time of printing.
Further announcements will be issued to update shareholders in relation to
the Acquisition Agreement and Subscription Agreement as and when
necessary.
The Company wishes to remind the shareholders that the Acquisition
Agreement and the Subscription Agreement as described in its announcement
dated 8th January, 2000 are not completed yet and are subject to certain
conditions. In the meantime, shareholders and potential shareholders
should take extreme caution when dealing in the securities of the Company.
Made by order of the board
Hui Yat On, Kelvin
Director
Hong Kong, 5th April, 2000
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