OCEAN GRAND<1220> - Announcement
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.
Ocean Grand Holdings Limited
(incorporated in Bermuda with limited liability)
The Directors have noted the increase in share price and trading volume of
the shares of the Company on Wednesday, 12 January, 2000 and wish to
confirm that independent third parties who are not connected with any
director, chief executive or substantial shareholder of the Company or any
of its subsidiaries or an associate of any of them have approached the
Company recently for investment opportunities and the Directors hereby
confirm that negotiations may or may not proceed to formal agreement.
This announcement is made at the request of The Stock Exchange of Hong
Kong Limited.
The directors (the "Directors") of Ocean Grand Holdings Limited (the
"Company") have noted the recent increase in share price and trading
volume of the shares of the Company on Wednesday, 12 January, 2000.
The Directors have been recently approached by independent third parties
who are not connected with any director, chief executive or substantial
shareholder of the Company or any of its subsidiaries or an associate of
any of them regarding investment opportunities in certain internet related
business and the discussions are at their preliminary stage only. The
Directors wish to state that other than the preliminary discussions on the
aforesaid investment opportunities, they are not aware of any reasons for
the increase in the share price and trading volume of shares of the
Company.
It is normal for the Company to look for investment opportunities in the
market and the Company is often approached by independent third parties
for investment opportunities. The Directors hereby emphasize that the
aforesaid preliminary discussions may or may not proceed to formal
agreement and the that no specific terms have been agreed between the
Company and the independent third parties. The Directors confirm that they
will comply with the Rules Governing the Listing of Securities on The
Stock Exchange of Hong Kong Limited and further announcement will be made
in due course.
The Directors confirm that save as disclosed above, there are no
negotiations or agreements for any intended acquisitions or realisations
which are discloseable under paragraph 3 of the Listing Agreement, neither
are the Directors aware of any matter discloseable under the general
obligations imposed by paragraph 2 of the Listing Agreement, which is or
may be price-sensitive information.
If the Company should enter into any agreement which constitutes a
price-sensitive information or is discloseable under the applicable
provisions of the Rules Governing the Listing of Securities on The Stock
Exchange of Hong Kong Limited, an announcement will be made.
In the meantime, public investors are urged to exercise caution in dealing
in the shares of the Company.
This announcement is made by the order of the board of Directors which
individually and jointly accept the responsibility for the accuracy of
this statement.
By order of the board of
Ocean Grand Holdings Limited
Yip Kim Po
Chairman
Hong Kong, 12 January, 2000
|