Esprit Holdings Limited — M&A Activity 2000

Mar 10, 2000

Listed Company Information

GRANDE HOLDINGS<0186> - 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. THE GRANDE HOLDINGS LIMITED (incorporated in the Cayman Islands with limited liability and redomiciled and continuing into and existing under the laws of Bermuda) PROPOSED SEPARATE LISTING OF LAFE TECHNOLOGY LIMITED ON THE SINGAPORE EXCHANGE Financial adviser to The Grande Holdings Limited Further to the announcement of the Company dated 24th February, 2000, the Directors are pleased to announce that the Singapore Exchange has granted in-principle approval of the LTL Listing on 8th March, 2000. The LTL Listing and the Waiver are subject to the approval of the Shareholders at the SGM, the details of which will be set out in the notice of SGM of the circular to be issued shortly to the Shareholders, and for information only, the warrantholders of the Company. Unless otherwise defined, terms used in this announcement shall have the same meanings as defined in the announcement of the Company dated 24th February, 2000. The directors ("Directors") of The Grande Holdings Limited (the "Company") announced on 24th February, 2000, that it has decided to proceed with the proposed separate listing ("LTL Listing") of Lafe Technology Limited ("LTL"), formerly known as The Grande Electronics Holdings Limited. It was also announced that the LTL Listing will involve a New Restructuring. Further to the announcement of the Company dated 24th February, 2000, the Directors are pleased to announce that the Singapore Exchange Securities Trading Limited ("Singapore Exchange") has granted in-principle approval of the LTL Listing on 8th March, 2000. The LTL Listing will require the approval of Independent Shareholders at a special general meeting ("SGM") as the LTL Listing will materially dilute the Company's interest in LTL, which is a major subsidiary of the Company. Furthermore, the Shareholders will not be offered assured entitlements to subscribe for or acquire the shares of LTL. Under the Listing Rules, the approval of Independent Shareholders will be required for the waiver ("Waiver") of the requirement to offer assured entitlements to the Shareholders to subscribe for or acquire shares of LTL. Further details in relation to the LTL Listing, the New Restructuring and the SGM will be set out in the circular to be issued shortly by the Company to the Shareholders, and for information only, the warrantholders of the Company. By order of the Board THE GRANDE HOLDINGS LIMITED Christopher W. Ho President and Group Chief Executive Hong Kong, 9th March, 2000