NOBLE LINK HOLD<0254>-Announcement & Resumption of Trading
The Stock Exchange of Hong Kong Limited (the "Stock Exchange")
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.
NOBLE LINK HOLDINGS LIMITED
(the "Company")
(Incorporated in Hong Kong with limited liability)
CHANGE OF SINGLE LARGEST SHAREHOLDER
AND PUBLIC FLOAT
The Board has noted the recent increases in share price and
trading volume of shares in the Company and does not know
the reason for such increases.
The Company has on 9th February, 2000 received a SDI notice
from a new substantial shareholder which holds approximately
26.27% shares in the Company and becomes the single largest
shareholder of the Company. The Company has no information
on the background of the new substantial shareholder. At this
moment, it is unable for the Company to predict any impact
whether business or financial in relation to the new
substantial shareholder on the Company. The Company revealed
from one of its existing substantial shareholder that it has
sold down its holding of approximately 26.27% shares in the
Company on 3rd February, 2000 in order to meet financial
obligations. At present, 22,933,069 shares (approximately
10.92%) in the Company held by such existing substantial
shareholder are pledged and all associated loans are overdue.
Shareholders and investors are reminded that such pledged
shares may be disposed by the relevant creditors in the event
that no settlement arrangement can be reached.
For the purpose of clarifying that public float of not less
than 25% shares in the Company is maintained, the Company
requested for suspension of trading of its shares on 10th
February, 2000. According to information available to the
Company, there are approximately 31.51% shares held by the
public. Application is made for resumption of trading of
shares in the Company with effect from 10:00 a.m. on 17th
February, 2000.
INCREASES IN PRICE AND TRADING VOLUME OF SHARES
This statement is made at the request of the Stock Exchange.
The Board has noted the recent increases in price and trading
volume of the shares of the Company and wish to state that
it is not aware of any reason for such increases.
Saved as disclosed in the following, the Board also confirm
that there are no negotiations or agreements relating to
intended acquisitions or realisation which are discloseable
under paragraph 3 of the Listing Agreement, neither is the
Board aware of any matter discloseable under the general
obligation imposed by paragraph 2 of the Listing Agreement,
which is or may be of a price-sensitive nature.
SUBSTANTIAL SHAREHOLDERSHIP AND PUBLIC FLOAT
The Company has on 9th February, 2000 received a SDI notice
from a new substantial shareholder namely East Marton Group
Limited ("East Marton") which holds approximately 26.27%
shares in the Company and becomes the single largest
shareholder of the Company. East Marton is an independent
third party not connected with the directors, substantial
shareholder or chief executive of the Company and any of its
subsidiaries or their respective associates. The Company has
not received any request from East Marton for Board
representation purpose. Neither the Company nor any Board
member has any information on the background of the new
substantial shareholder. At this moment, it is unable for
the Company to predict any impact whether business or
financial in relation to the new substantial shareholder on
the Company. The Company revealed from one of its existing
substantial shareholder namely CIL Holdings Limited ("CIL")
that its wholly owned subsidiary namely Lucky Choice Assets
Limited ("Lucky Choice") has sold down its holding of
approximately 26.27% shares in the Company on 3rd February
2000 in order to meet financial obligations. Such shares had
been pledged to a financial institution and which were sold
under the direction of the pledgee off market. It was further
revealed from CIL that it is still holding 40,379,069 shares
(approximately 19.22%) in the Company and 22,933,069 shares
(approximately 10.92%) of which have been pledged to
financial institutions or independent third parties. All
such loans associated with those said share pledges have been
overdue. It was also informed that CIL is in negotiation with
those creditors for settlement proposals for such overdue
amount. However, shareholders and investors are reminded
that such pledged shares may be disposed by the relevant
creditors in the event that no settlement arrangement can
be reached. In accordance with the joint announcement made
by CIL and the Company dated 7th January, 2000 and 14th
January, 2000, CIL are still negotiating with the Amsteel
Parties for the completion of the acquisition of 23% shares
in the Company by Lucky Choice pursuant to an agreement dated
23rd November, 1998. It is noted that 47,093,000 shares
(approximately 22.41%) held by the Amsteel Parties have also
been pledged to financial institution. According to
information available to the Company, the shareholding
structure of the Company is as follows:
Percentage
Name Number of shares held before 03/02/00 from 03/02/00
CIL 40,379,069 45.49 19.22
Amsteel Parties 48,323,000 23.00 23.00
East Marton 55,185,700 - 26.27
Public 66,212,231 31.51 31.51
For the purpose of clarifying that public float of not less than 25%
shares in the Company is maintained, the Company requested for suspension
of trading of its shares on 10th February, 2000. According to information
available to the Company, there are approximately 31.51% shares held by
the public. Application is made for resumption of trading of shares in the
Company with effect from 10:00 a.m. on 17th February, 2000.
By Order of the Board
Noble Link Holdings Limited
Li Zhao
Director
Hong Kong, 16th February, 2000
The directors of the Company jointly and severally accept full
responsibility for the accuracy of the information contained in this
announcement insofar as it relates to the Company and confirm, having made
all reasonable inquiries, 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 statement in this
announcement misleading.
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