LINMARK GROUP<00915> - Exceptional Turnover Movement
The Stock Exchange has received a message from Linmark Group Limited
which is reproduced as follows:-
"This statement is made at the request of The Stock Exchange of Hong Kong
Limited.
We have noted the recent increases in the trading volume of the shares of
the Company and wish to state that, save as disclosed below, we are not
aware of any reasons for such movements.
A placing agreement ("Placing Agreement") was concluded on 19 May 2003
pursuant to which RGS Holdings Limited ("RGS"), a wholly-owned subsidiary
of Roly International Holdings Ltd. ("Roly"), through Cazenove Asia
Limited, a placing agent in Hong Kong, will sell 35,000,000 existing
shares of par value US$0.02 each ("Linmark Sale Shares") in the capital of
Linmark, representing 5.41% of the existing issued share capital of
Linmark, to independent investors at a price of HK$2.08 for each Linmark
Sale Share ("Transaction"). The Transaction is expected to be completed
on 22 May 2003.
The sale price of HK$2.08 per Linmark Sale Share represents a discount of
approximately 4.37% to the closing market price of the shares of par value
US$0.02 each of Linmark (each, a "Linmark Share") traded on The Stock
Exchange of Hong Kong Limited on 19 May 2003.
Prior to the Transaction, Roly had, through RGS, an interest in 72.29% of
the issued share capital of Linmark, comprising 468,000,000 Linmark
Shares. Following the completion of the Transaction, Roly's interest in
Linmark will be reduced to 66.88%, comprising 433,000,000 Linmark Shares.
Save for the above, we also confirm that there are no negotiations or
agreements relating to intended acquisitions or realisations 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.
Made by the order of the Board of Linmark Group Limited the directors of
which individually and jointly accept responsibility for the accuracy of
this statement.
Khoo Kim Cheng
Director
20 May, 2003"
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