abc Multiactive Limited — Earnings Release 2003

Apr 11, 2003

GEM

ABC MULTIACTIVE<08131> - Results Announcement (Q1, 2002/2003, Summary)

abc Multiactive Limited announced on 11/04/2003:
(stock code :08131)

Year end date :30/11/2003
Currency :HKD
Auditors' report :N/A
Review of 1st Quarterly Report by :Audit Committee

Important Note :

This result announcement form only contains extracted information from
and should be read in conjunction with the detailed results announcement
of the issuer, which can be viewed on the GEM website at
http://www.hkgem.com

                                       (Unaudited)       (Unaudited)
                                           Current              Last 
                                                       Corresponding
                                            Period            Period
                                   from 01/12/2002   from 01/12/2001
                                     to 28/02/2003     to 28/02/2002
                                             $'000             $'000

Turnover : 5,360 7,051
Profit/(Loss) from Operations : 1,673 (8,757)
Finance cost : (146) (138)
Share of Profit/(Loss) of Associates : 0 0
Share of Profit/(Loss) of Jointly
Controlled Entites : 0 0
Profit/(Loss) after Taxation & MI : 1,527 (8,895)
% Change Over the Last Period : N/A
EPS / (LPS)
Basic (in dollar) : HKD 0.001 (HKD 0.0055)
Diluted (in dollar) : N/A N/A
Extraordinary (ETD) Gain/(Loss) : 0 0
Profit (Loss) after ETD Items : 1,527 (8,895)
1st Quarterly Dividends per Share : NIL NIL
(specify if with other options) : N/A N/A
B/C Dates for 1st Quarterly Dividends : N/A
Payable Date : N/A
B/C Dates for (-) General Meeting : N/A
Other Distribution for Current Period : NIL
B/C Dates for Other Distribution : N/A

                                         For and on behalf of
                                       abc Multiactive Limited
                        Signature :
                        Name      :       Billy Kin Wah Chan
                        Title     :       Executive Director

Responsibility statement

The directors of the Company (the "Directors") as at the date hereof
hereby collectively and individually accept full responsibility for the
accuracy of the information contained in this results announcement form
(the "Information") and confirm, having made all reasonable inquiries,
that to the best of their knowledge and belief the Information are
accurate and complete in all material respects and not misleading and
that there are no other matters the omission of which would make the
Information herein inaccurate or misleading. The Directors acknowledge
that the Stock Exchange has no responsibility whatsoever with regard
to the Information and undertake to indemnify the Exchange against all
liability incurred and all losses suffered by the Exchange in connection
with or relating to the Information.

Remarks:

1. Basis of presentation

The accounts have been prepared in accordance with accounting
principles generally accepted in Hong Kong and comply with
accounting standards issued by the Hong Kong Society of
Accountants. They are prepared under the historical cost
convention.

The accounts have been prepared on a going concern basis. On 21st
February 2003, a shareholder of the Company, Pacific East Limited,
has confirmed that it will not demand repayment of its promissory
note in the amount of HK$9,500,000 within twelve months from 30th
November 2002 and has agreed to extend the maturity date of the
promissory note to 22nd May 2004. The ultimate holding company,
Maximizer Software Inc., has also confirmed that it will not demand
repayment of the amount due to it of approximately HK$2,225,000
within twelve months from 30th November 2002. Furthermore, a party
connected to a non-executive director of the Company, Wickham
Group Limited, has advanced approximately HK$5,134,000 to the Group
by way of a promissory note due for repayment on 21st February 2004
and has agreed that it will not demand repayment of the promissory
note until that date. The directors are satisfied based upon all of
the information available to them that it is appropriate to prepare
the accounts on a going concern basis.

1. Basic earnings/(loss) per share

The calculation of basic earnings per share for the three
months ended 28th February 2003 was based on the net profit for
the period of approximately HK$1,527,000 (2002: loss of
HK$8,895,000) and the weighted average of 1,605,909,668 (2002:
1,605,909,668) ordinary shares in issue during the period.

No diluted earnings/(loss) per share for the three months ended
28th February 2003 and 2002 has been presented, as there was no
dilutive potential ordinary share during the periods.