Hang Lung Group Limited — M&A Activity 1999

Sep 17, 1999

Listed Company Information

PAC CENT CYBER<1186> - Announcement The Stock Exchange of Hong Kong Limited (the `Stock Exchange') 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. PACIFIC CENTURY CYBERWORKS LIMITED (Incorporated in Hong Kong with limited liability) ACQUISITION OF INTEREST IN PACIFIC CONVERGENCE CORPORATION, LTD. Summary Completion of the Transactions in relation to the acquisition of an interest in Pacific Convergence Corporation, Ltd. ('PCC') by Pacific Century CyberWorks Limited (the `Company') took place on 15th September 1999. Unless otherwise defined, terms in this announcement shall have the same meanings as used in the circular dated 21st August 1999 (the `Circular') issued by the Company. Reference is made to the Company's announcements dated 31st July 1999 and 8th September 1999 regarding (i) PCD entering into the Agreement (as amended) with Intel in respect of the acquisition of an interest in PCC by the Company through various share exchanges, the granting of a share exchange option to Intel by the Company and a subscription for Shares by Intel and (ii) the fulfilment of all the conditions for the completion of the Transactions as described in the Circular, respectively. The Company is pleased to announce that in accordance with the Agreement (as amended), completion of the Transactions took place on 15th September 1999, being five business days after satisfaction of all the conditions for the Transactions. By Order of the Board Pacific Century CyberWorks Limited Chu Mee Lai, Helen Company Secretary 15th September 1999, Hong Kong