GoFintech Quantum Innovation Limited — M&A Activity 2002

Jul 19, 2002

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.

Voluntary Conditional Cash Offer by

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TINGKONG - REXCAPITAL SECURITIES INTERNATIONAL LIMITED

on behalf of Kandy Profits Limited to acquire all the shares in the issued share capital of Pacific Challenge Holdings Limited

Financial Adviser to Kandy Profits Limited

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Announcement

The Offers become unconditional in all respects on 19 July, 2002.

The Offers will close at 4:00 p.m. on 2 August, 2002.

Reference is made to the announcement (the “ Announcement ”) dated 11 July, 2002 issued by Kandy Profits Limited (the “ Offeror ”) in respect of a voluntary cash offer to acquire all the shares in the issued share capital of Pacific Challenge Holdings Limited. Unless otherwise defined, terms used in this announcement shall have the same meanings as they are defined in the offer document dated 23 May, 2002 issued by the Offeror.

As at 4:00 p.m. on 19 July 2002, valid acceptances have been received in respect of 217,640,000 Shares (representing approximately 75.34% of the issued share capital of the Company) and 21,492,000 Options (representing 100% of the outstanding Options).

The Offeror has received the regulatory approval by the SFC to become a substantial shareholder of the Company. Accordingly, the Offeror declared that the Offers become unconditional in all respects on 19 July, 2002.

Remittances in respect of the consideration payable for the Shares and the Options tendered under the Offers will be posted within ten days of the later of the date of receipt of the Share Registrar of all the relevant documents to tender the acceptance under the Offers complete and valid, and the date when the Share Offer becomes unconditional in all respects, being the date of this announcement.

The Offers will close at 4:00 p.m. on 2 August, 2002.

By order of the Board Kandy Profits Limited Cheong Tin Yau Director

Hong Kong, 19 July, 2002

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The sole director of the Offeror accepts full responsibility for the accuracy of the information contained in this announcement and confirms, having made all reasonable enquiries, that to the best of his knowledge, opinion expressed in this announcement has been arrived at after due and careful consideration and there are no other facts not contained in this announcement the omission of which would make any statements in this announcement misleading.

"Please also refer to the published version of this announcement in the China Daily"

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