Harbour Centre Development Limited — Capital/Financing Update 1999

Sep 28, 1999

Listed Company Information

FE CONSORT INTL<0035> - 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. FAR EAST CONSORTIUM INTERNATIONAL LIMITED (Incorporated in the Cayman Islands with limited liability) NOTICE OF EXPIRY OF SUBSCRIPTION RIGHTS ATTACHING TO THE 1999 WARRANTS * The latest time for subscription of the 1999 Warrants will be 4:00 p.m. on 29th October, 1999. * Trading in the 1999 Warrants will cease after 4:00 p.m. on 26th October, 1999. * Listing of the 1999 Warrants will be withdrawn at the close of business on 29th October, 1999. The board of directors of Far East Consortium International Limited (the "Company") reminds holders of its warrants carrying rights to subscribe for new shares of HK$0.10 each in the Company ("Shares") at the subscription price of HK$3.20 per Share (subject to adjustment) on or before 31st October, 1999 (the "1999 Warrants") that after 31st October, 1999, the subscription rights attaching to the 1999 Warrants (the "Subscription Rights") which have not been exercised will lapse and the 1999 Warrants certificates will cease to be valid for any purpose. As 30th and 31st October, 1999 are not business days (as defined in the instrument relating to the 1999 Warrants), the board of directors of the Company has determined that the last subscription date for the 1999 Warrants is 29th October, 1999 (being the last business day falling during the subscription period on which the Subscription Rights may be exercised). The Company has made the following arrangements regarding dealings in the 1999 Warrants, transfers and exercise of the Subscription Rights: 1. The trading of the 1999 Warrants on The Stock Exchange of Hong Kong Limited (the "Stock Exchange") will cease after 4:00 p.m. on Tuesday, 26th October, 1999. 2. The registered holders of the 1999 Warrants who wish to exercise the Subscription Rights must lodge with the share registrars of the Company, Standard Registrars Limited, 5th Floor, Wing On Centre, 111 Connaught Road Central, Hong Kong, the following on or before 4:00 p.m. on Friday, 29th October, 1999: (i) the relevant 1999 Warrant certificates; (ii) the duly completed and signed subscription forms; and (iii) remittances for the relevant subscription moneys. 3. Persons who have purchased but not yet registered as holders of the 1999 Warrants and who wish to exercise the Subscription Rights must lodge with Standard Registrars Limited at the abovementioned address, the following on or before 4:00 p.m. on Friday, 29th October, 1999: (i) the duly completed and signed instruments of transfer or other documents of title; (ii) the relevant 1999 Warrant certificates; (iii) the duly completed and signed subscription forms; and (iv) remittances for the relevant subscription moneys. 4. New Shares falling to be issued upon the exercise of the Subscription Rights will be allotted to the relevant warrantholders not later than 30 days after the relevant subscription date and such new Shares will rank pari passu in all respects with the Shares in issue on the relevant subscription date. 5. Application has been made for withdrawal of the listing of 1999 Warrants from the Stock Exchange with effect from the close of business on Friday, 29th October, 1999. The closing prices of the Shares and the 1999 Warrants as quoted on the Stock Exchange on 27th September, 1999 are HK$0.63 and HK$0.01 respectively. Holders of the 1999 Warrants who are in any doubt as to the action to be taken should consult their stockbroker or other registered dealer in securities, bank manager, solicitor, professional accountant or other professional adviser. A circular in relation to the subject matter will be despatched to the holders of the 1999 Warrants as soon as possible. By Order of the Board Michael Chi Ning O'Young Managing Director Hong Kong, 27th September, 1999