Hung Hing Printing Group Limited — Major Shareholding Notification 2000

Feb 17, 2000

Listed Company Information

NOBLE LINK HOLD<0254>-Announcement & Resumption of Trading 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. NOBLE LINK HOLDINGS LIMITED (the "Company") (Incorporated in Hong Kong with limited liability) CHANGE OF SINGLE LARGEST SHAREHOLDER AND PUBLIC FLOAT The Board has noted the recent increases in share price and trading volume of shares in the Company and does not know the reason for such increases. The Company has on 9th February, 2000 received a SDI notice from a new substantial shareholder which holds approximately 26.27% shares in the Company and becomes the single largest shareholder of the Company. The Company has no information on the background of the new substantial shareholder. At this moment, it is unable for the Company to predict any impact whether business or financial in relation to the new substantial shareholder on the Company. The Company revealed from one of its existing substantial shareholder that it has sold down its holding of approximately 26.27% shares in the Company on 3rd February, 2000 in order to meet financial obligations. At present, 22,933,069 shares (approximately 10.92%) in the Company held by such existing substantial shareholder are pledged and all associated loans are overdue. Shareholders and investors are reminded that such pledged shares may be disposed by the relevant creditors in the event that no settlement arrangement can be reached. For the purpose of clarifying that public float of not less than 25% shares in the Company is maintained, the Company requested for suspension of trading of its shares on 10th February, 2000. According to information available to the Company, there are approximately 31.51% shares held by the public. Application is made for resumption of trading of shares in the Company with effect from 10:00 a.m. on 17th February, 2000. INCREASES IN PRICE AND TRADING VOLUME OF SHARES This statement is made at the request of the Stock Exchange. The Board has noted the recent increases in price and trading volume of the shares of the Company and wish to state that it is not aware of any reason for such increases. Saved as disclosed in the following, the Board also confirm that there are no negotiations or agreements relating to intended acquisitions or realisation which are discloseable under paragraph 3 of the Listing Agreement, neither is the Board aware of any matter discloseable under the general obligation imposed by paragraph 2 of the Listing Agreement, which is or may be of a price-sensitive nature. SUBSTANTIAL SHAREHOLDERSHIP AND PUBLIC FLOAT The Company has on 9th February, 2000 received a SDI notice from a new substantial shareholder namely East Marton Group Limited ("East Marton") which holds approximately 26.27% shares in the Company and becomes the single largest shareholder of the Company. East Marton is an independent third party not connected with the directors, substantial shareholder or chief executive of the Company and any of its subsidiaries or their respective associates. The Company has not received any request from East Marton for Board representation purpose. Neither the Company nor any Board member has any information on the background of the new substantial shareholder. At this moment, it is unable for the Company to predict any impact whether business or financial in relation to the new substantial shareholder on the Company. The Company revealed from one of its existing substantial shareholder namely CIL Holdings Limited ("CIL") that its wholly owned subsidiary namely Lucky Choice Assets Limited ("Lucky Choice") has sold down its holding of approximately 26.27% shares in the Company on 3rd February 2000 in order to meet financial obligations. Such shares had been pledged to a financial institution and which were sold under the direction of the pledgee off market. It was further revealed from CIL that it is still holding 40,379,069 shares (approximately 19.22%) in the Company and 22,933,069 shares (approximately 10.92%) of which have been pledged to financial institutions or independent third parties. All such loans associated with those said share pledges have been overdue. It was also informed that CIL is in negotiation with those creditors for settlement proposals for such overdue amount. However, shareholders and investors are reminded that such pledged shares may be disposed by the relevant creditors in the event that no settlement arrangement can be reached. In accordance with the joint announcement made by CIL and the Company dated 7th January, 2000 and 14th January, 2000, CIL are still negotiating with the Amsteel Parties for the completion of the acquisition of 23% shares in the Company by Lucky Choice pursuant to an agreement dated 23rd November, 1998. It is noted that 47,093,000 shares (approximately 22.41%) held by the Amsteel Parties have also been pledged to financial institution. According to information available to the Company, the shareholding structure of the Company is as follows: Percentage Name Number of shares held before 03/02/00 from 03/02/00 CIL 40,379,069 45.49 19.22 Amsteel Parties 48,323,000 23.00 23.00 East Marton 55,185,700 - 26.27 Public 66,212,231 31.51 31.51 For the purpose of clarifying that public float of not less than 25% shares in the Company is maintained, the Company requested for suspension of trading of its shares on 10th February, 2000. According to information available to the Company, there are approximately 31.51% shares held by the public. Application is made for resumption of trading of shares in the Company with effect from 10:00 a.m. on 17th February, 2000. By Order of the Board Noble Link Holdings Limited Li Zhao Director Hong Kong, 16th February, 2000 The directors of the Company jointly and severally accept full responsibility for the accuracy of the information contained in this announcement insofar as it relates to the Company and confirm, having made all reasonable inquiries, 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 statement in this announcement misleading.