BAKER GROUP<01190> - Announcement
The Stock Exchange has received a message from Baker Group International
Holdings Limited which is reproduced as follows:-
"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.
Baker Group International Holdings Limited
(Formerly known as Luen Cheong Tai International Holdings Limited)
(Provisional Liquidators Appointed)
DELAY IN RELEASING RESULTS OF THE COMPANY ANNOUNCEMENT
The release of the Company's audited final results for the year ended 31
May 2002 and the unaudited interim results for the six-month period ended
30 November 2002 have been delayed as the Company is formulating a
financial restructuring proposal. No material transactions have been
effected in this respect since the Company's announcement dated 3 December
2002.
The Company will make further announcement of any material
development in the financial restructuring proposal and with regard to any
release of unaudited financial results of the Company as soon as
practicable. It is expected that the Company will be able to publish its
audited accounts for the financial year ended 31 May 2002 within four
months following the completion of the financial restructuring proposal.
Reference is made to the announcement of the Company dated 3 December
2002.
The Company will make further announcement of any material development in
the financial restructuring proposal and with regard to any release of the
unaudited interim results of the Company as soon as practicable. It is
expected that the Company will be able to publish its audited accounts for
the financial year ended 31 May 2002 within four months following the
completion of the financial restructuring proposal.
The Provisional Liquidators have sent a letter to the directors of the
Company (through their legal representative) to ascertain whether they
have dealt in the shares of the Company since 26 August 2002 and also to
request them to undertake to The Stock Exchange of Hong Kong Limited that
they will not deal in the shares of the Company until the publication of
the audited accounts for the financial year ended 31 May 2002 and the
unaudited interim results for the period ended 30 November 2002. However,
as at 4pm on 28 February 2003, the Provisional Liquidators have not
received any response from the directors of the Company.
The above delay in releasing results of the Company is a breach of
paragraphs (8) and (10) of the Listing Rules and The Stock Exchange of
Hong Kong Limited reserves its rights to take appropriate actions against
the Company and its directors in respect of the breach.
Trading in the shares of the Company on The Stock Exchange of Hong Kong
Limited was suspended at the request of the Company with effect from 10:00
a.m. on Monday, 26 August 2002 and will continue to be so suspended until
further notice.
For and on behalf of
Baker Group International Holdings Limited
(formerly known as
"Luen Cheong Tai International Holdings Limited")
(Provisional Liquidators Appointed)
YEO Boon Ann
Stephen LIU Yiu Keung
Joint and Several Provisional Liquidators
Hong Kong, 28 February 2003"
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