Brockman Mining Limited — M&A Activity 2001

Oct 4, 2001

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.

WONG'S INTERNATIONAL (HOLDINGS) LIMITED

(Incorporated in Bermuda with limited liability)

RECOMMENDED VOLUNTARY UNCONDITIONAL CASH OFFER FOR

WONG'S CIRCUITS (HOLDINGS) LIMITED

(Incorporated in the Republic of Singapore)

BY

GRINKGO HOLDINGS LIMITED

(Incorporated in the British Virgin Islands with limited liability)

An indirect wholly-owned subsidiary of Wong's International (Holdings) Limited

ANNOUNCEMENT OF LEVEL OF ACCEPTANCES OF OFFER

As at 3:30 p.m. on 2nd October 2001, being the closing date (the “Closing Date”) of the recommended voluntary unconditional cash offer, Grinkgo Holdings Limited (the “Offeror”) has received valid acceptances in respect of 166,447,000 WCH Shares, which represents approximately 99.67 per cent. of the issued share capital of WCH.

Pursuant to Section 215(1) of the Companies Act, Chapter 50 of Singapore (the “Singapore Companies Act”), the Offeror intends to compulsorily acquire all the WCH Shares in respect of which acceptances have not been received as at the Closing Date at the price of US$1.46.

Terms defined in the circular to shareholders of the Company dated 28th August, 2001 shall have the same meanings herein unless otherwise stated.

‍Level of Acceptances

As at 3:30 p.m. on 2nd October, 2001, being the closing date of the recommended voluntary unconditional cash offer for all the issued and paid-up ordinary shares of S$0.50 each of WCH, the Offeror has received valid acceptances in respect of 166,447,000 WCH Shares, which represent approximately 99.67 per cent. of the issued share capital of WCH. This includes acceptance by Wong's Industrial (Holdings) Limited (“WNH”), pursuant to its irrevocable undertaking in respect of its beneficial holding of 124,000,000 WCH Shares.

Prior to the announcement of the Offer, the Offeror did not own or control, and had not agreed to acquire any WCH Shares. WNH, a party acting in concert with the Offeror, owned 124,000,000 WCH Shares, which represent approximately 74.25 per cent. of the issued share capital of WCH, as at the date of the announcement of the Offer. Neither the Offeror nor any party presumed to be acting in concert with the Offeror has acquired any WCH Shares since the date of the announcement of the Offer.

‍Compulsory Acquisition Pursuant to Section 215(1) of the Singapore Companies Act

The Offeror has disclosed in its offering document dated 28th August 2001 its intention to exercise rights of compulsory acquisition pursuant to Section 215(1) of the Singapore Companies Act if it is entitled to do so. As at the Closing Date, the Offeror has received valid acceptances in respect of 166,447,000 WCH Shares, representing approximately 99.67 per cent. of the issued share capital of WCH. As the Offeror has received acceptances in respect of more than 90 per cent. of the WCH Shares, the Offeror is now entitled to exercise the right of compulsory acquisition pursuant to Section 215(1) of the Singapore Companies Act and intends to compulsorily acquire at the Offer Price all the WCH Shares in respect of which acceptances have not been received as at the Closing Date.

Further announcements in relation to the Offer and the Compulsory Acquisition will be made by the Company as and when appropriate.

By Order of the Board of
Wong's International (Holdings) Limited
Wong Chung Ah, JohnnyChairmanHong Kong, 3rd October, 2001