KWONG HING INTL<1131> - 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.
Kwong Hing International Holdings (Bermuda) Limited
(the "Company")
(Incorporated in Bermuda with limited liability)
Announcement
The Company has terminated the agreement dated 18th December
1999 for subscription of shares in Star Digitel Limited
("SDL").
The Company refers to its announcements dated 20th and 21st
December 1999 respectively.
The Company wishes to advise that:
1. On 27th March 2000 it terminated the agreement with SDL
dated 18th December 1999 for subscription of shares in SDL
("Subscription Agreement");
2. The Company terminated the Subscription Agreement
because SDL failed to satisfy the conditions precedent
within the time required -including that certain winding-up
petitions against SDL had not been withdrawn.
The Company confirms that it did not pay to SDL any deposit
or other sums for the Subscription Agreement and the
termination will not cause any adverse effect on the Company.
Made by the order of the Board of the Company, the directors
of which individually and jointly accept responsibility for
the accuracy of this announcement.
By order of the Board
Kwong Hing International Holdings (Bermuda) Limited
Li Mei Lin
Deputy Chairman
Hong Kong: 28th March 2000
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