This is interesting, dug up on Stock Exchange of Hong Kong page.
sehk.com.hk
CHEUNG WAH DEV<0648> - Announcement
The Stock Exchange of Hong Kong Limited takes no responsibility for
the contents of this announcement, make 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
SOFTBANK INVESTMENT
(INTERNATIONAL) HOLDINGS LIMITED
(Incorporated in the Cayman Islands with limited liability)
CHEUNG WAH DEVELOPMENT
COMPANY LIMITED
(Incorporated in Hong Kong under the Companies Ordinance)
Joint Announcement
As a result of the Lunar New Year holiday, the date of despatch
of the circular in respect of the Subscription will be delayed to on
or before 21st February, 2000.
Cheung Wah Development Company Limited (the 'Company') and Softbank
Investment (International) Holdings Limited ('SBIIH') have jointly
announced on 19th January, 2000 (the 'Announcement') that they had
entered into a conditional subscription agreement in relation to the
subscription by SBIIH of 1,152,500,000 new shares of HK$0.10 each in
the capital of the Company (the 'Subscription'). Upon completion of
the Subscription, SBIIH will be obliged to make a general offer for
all the shares in the Company not already owned by SBIIH or parties
acting in concert with it as required under the Hong Kong Code on
Takeovers and Mergers (the 'Code'). HSBC Investment Bank Asia
Limited, on behalf of SBIIH, has made an application to the Executive
of the Securities & Futures Commission (the 'SFC') for a whitewash
waiver from the obligation to make the general offer under the Code.
Pursuant to the Code, a circular (the 'Circular') in respect of the
Subscription and the whitewash waiver must be despatched to
shareholders of the Company on or before 9th February, 2000, being
the 21st day after the date of the Announcement. Due to the Lunar New
Year holiday, despatch of the Circular will be delayed. An
application has been made to the Executive of the SFC to request for
an extension of the despatch date of the Circular to 21st February,
2000.
By Order of the Board of
SOFTBANK INVESTMENT (INTERNATIONAL)
HOLDINGS LIMITED
Junichi Goto
Director
By Order of the Board of
CHEUNG WAH DEVELOPMENT
COMPANY LIMITED
Yu Kam Kee, Lawrence
Chairman
Hong Kong, 8th February, 2000
The directors of the Company and SBIIH jointly and severally accept
full responsibility for the accuracy of the information contained in
this announcement and confirm, having made all reasonable enquiries,
that to the best of their knowledge, opinions expressed in this
announcement have been arrived at after due and careful consideration
and there are no other facts not contained in this announcement, the
omission of which would make any statements in this announcement
misleading. |
