G-Resources Group Limited — Earnings Release 2000

Aug 18, 2000

Listed Company Information

STAR CYBERPOWER<1051> - Results Announcement Star Cyberpower Holdings Limited announced on 18/8/2000: (stock code: 1051) Year end date: 30/6/2000 Currency: HKD (Unaudited) (Audited) 12-Month- 12-Month- Period Period from 1/4/1999 from 1/4/1998 to 31/3/2000 to 31/3/1999 ('000) ('000) Turnover - Continuing : 12,153 38,306 - Discontinued : - 71,519 Operating Profit/(Loss) - Continuing : (34,523) (331,140) - Discontinued : - (151,956) Total Operating Profit/(Loss) : (34,523) (483,096) Share of Profit/(Loss) of Associated Companies : (2,044) (20,899) Share of Profit/(Loss) of Jointly Controlled Entities : 0 0 Profit/(Loss) after Tax & MI : (36,674) (503,516) % Change over Last Period : N/A EPS/(LPS)-Basic : (2.9 cents) (42.4 cents) -Diluted : N/A N/A Extraordinary (ETD) Gain/(Loss) : 0 0 Profit/(Loss) after ETD Items : (36,674) (503,516) 2nd Interim Dividend per Share : NIL NIL (Fin Div) (Specify if with other options) : - - B/C Dates for 2nd Interim Dividend : N/A Payable Date : N/A B/C Dates for (-) General Meeting : N/A Other Distribution for Current Period : N/A B/C Dates for Other Distribution : N/A Remarks: (1) CONTINUING OPERATIONS: The following items have been charged in arriving at operating / (loss) profit: OTHER EXPENSES HK$'000 Loss arising in connection with committed repurchase of interest in a subsidiary (4,921) Provision for payments under guarantee (5,375) -------- (10,296) Interest on bank borrowings due within one year (8,554) -------- (18,850) ======== (2) TAXATION CREDIT (CHARGE) 2000 1999 HK$'000 HK$'000 The credit (charge) comprises: Prior years Hong Kong (107) - Overseas - 479 ---------------- (107) 479 ================ No provision for taxation has been made as the Group had incurred a tax loss for the year. The tax charge for the year represents underprovision in previous year. (3) LOSS PER SHARE The calculation of the basic loss per share is based on the loss for the year of HK$36,764,000 (1999: HK$503,516,000) and on the weighted average number of 1,264,021,384 (1999: adjusted weighted average number of 1,188,387,810) ordinary shares in issue after adjustment for the share consolidation on June 14, 2000 to consolidate every 2 issued shares into 1 share. No diluted loss per share has been presented because the exercise prices of the Company's share options were higher than the average market price of the Company's shares for both years. (4) RESTRUCTURING EXERCISE A restructuring exercise was completed on 14 June 2000 which included, inter-alia, the restructure of its capital, its obligations to banks, financial institutions and creditors and subscriptions and placements of new shares. Had the restructuring exercise been completed on 31 March 2000, the Group adjusted proforma net tangible assets would have amounted to HK$116 million after taking into consideration of the aforesaid exercise. (5) On 21 July 2000, the Company had announced that the financial year end date of the Company and its subsidiaries has been changed from 31 March to 30 June commencing from the year 2000.