PALADIN<0495> - 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.
PALADIN LIMITED
(Incorporated with limited liability in Bermuda)
ANNOUNCEMENT
Delay in issuing interim report for the six months ended
31st December 1999 and exceptional share price movement
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There is a delay in issuing Interim Results which should
have been issued on or before 31st March 2000 due to the oversight of
the Company.
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Interim Results will be issued on 8th April 2000 and Interim Report
will be dispatched on 10th April 2000.
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Stock Exchange reserves its right to take appropriate action
regarding the breach of Listing Rules
This statement is made at the request of the Stock Exchange of Hong
Kong Limited.
The board of directors of Paladin Limited (`the Company') noted the
recent decreases in the price of shares of the Company and wish to
state that we are not aware of any reasons for such decreases.
According to the Rules Governing the Listing of Securities on The
Stock Exchange of Hong Kong Ltd, the Company is required to make an
announcement of the Interim Results for the six months ended 31st
December 1999 (the `Interim Results') on or before 31st March 2000.
Unfortunately due to pure oversight and forgetfulness the Company
had missed the deadline of 31st March 2000 in making the Interim
Results announcement. The Company will make the Interim Results
announcement on 8th April 2000, eight days after the official
deadline and the interim report for the six months ended 31st
December 1999 is expected to be dispatched by 10th April 2000.
The Stock Exchange of Hong Kong Ltd has indicated that the delay in
publication of the Interim Results will constitute a breach of the
Listing Rules and the Stock Exchange reserves its right to take
appropriate action regarding the breach.
Directors of the Company confirm that they have not dealt in the
shares of the Company since 31st December 1999 up to the date of the
announcement and also undertake that they will not deal in the shares
of the Company until the publication of the Interim Results.
We confirm that there is nothing exceptional or extraordinary in the
Company's business or finance that caused the delay in making the
announcement. The Company has also no intention whatsoever to
influence the share price of the Company through the delay in making
the Interim Results announcement.
We 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.
The statement is made by the order of the Board of Paladin Limited
the directors of which individually and jointly accept responsibility
for the accuracy of this statement.
By order of the Board
Paladin Limited
Charles Wong
Director & Secretary
Hong Kong, 5th April 2000
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