GoFintech Quantum Innovation Limited — M&A Activity 2002

Apr 29, 2002

WITHDRAWAL OF VOLUNTARY CONDITIONAL CASH OFFER BY

YU MING INVESTMENT MANAGEMENT LIMITED

ON BEHALF OF

ONTIME CAPITAL INVESTMENT LIMITED

TO ACQUIRE ALL THE SHARES IN THE ENTIRE ISSUED SHARE CAPITAL OF

PACIFIC CHALLENGE HOLDINGS LIMITED

The Offeror announces the withdrawal of the Offer in view of the voluntary conditional cash offer for all the shares of the Company made by TingKong -- RexCapital Securities International Limited on behalf of Kandy Profits Limited.

Terms used in this announcement bears the same meaning ascribed to them in the offer announcement dated 18th April, 2002 relating to Pacific Challenge Holdings Limited unless the context otherwise requires.

In the announcement of Kandy Profits Limited (the “Competitor”) dated 25th April, 2002 relating to the Company, TingKong -- RexCapital Securities International Limited on behalf of the Competitor made a voluntary conditional cash offer for all the shares of the Company (the “Competing Offer”). In view of the Competing Offer, the Offeror announces to withdraw the Offer under Note 2 to Rule 5 of the Code.

By Order of the Board
Ontime Capital Investment Limited
Peter Fung Yiu FaiDirectorHong Kong, 26th April, 2002

The directors of the Offeror jointly and severally accept full responsibility for the accuracy of the information contained in this announcement and confirm, having made all reasonable enquiries, that to the best of their knowledge, opinions expressed in this announcement have 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 of statements in this announcement misleading.

Please also refer to the published version of this announcement in the Hong Kong iMail.