PCW - Pacific Century CyberWorks Limited Message Board

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Technology Stocks : PCW - Pacific Century CyberWorks Limited

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To: ms.smartest.person who wrote (910)	4/2/2001 3:45:49 AM
From: ms.smartest.person	Read Replies (1) of 2248

HK Pacific Century Cyberworks Clarifies Exch Rules Waiver Updated: Sunday, April 1, 2001 10:51 PM ET HONG KONG (Dow Jones)--Hong Kong Pacific Century Cyberworks Ltd. (H.PCW, news, msgs) said Monday it will soon give details of transactions that fall under a limited waiver of stock exchange rules granted by the Hong Kong exchange. In an effort to clear up what it calls a "misunderstanding" in some recent press reports, the company said it had been granted the waiver, exempting it from notifying sharesholders of deals where the assets involved don't exceed HK$2.0 billion (US$257,069,408). The company added that the rules of the stock exchange continue to apply to it, except where modified by the "limited waiver." Normal stock exchange rules require a listed company to disclose details of certain transactions, to send a circular to shareholders and to publish an announcment in the newspapers. The rules can also require a company to obtain shareholders' approval for a transaction. PCCW said in an announcement it intends to provide details of the transactions that fell within the limited waiver in its annual report for the year ended Dec. 31. -By Dow Jones Newswires; 852-2802-7002; djnews.hongkong@dowjones.com quicken.com currency conversion US$ = HK$7.8.

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