JD Logistics, Inc. — Major Shareholding Notification 2000

Mar 8, 2000

Listed Company Information

MIDAS PRINTING<1172> - 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. MIDAS PRINTING GROUP LIMITED (Incorporated in the Cayman Islands with limited liability) (the `Company') COMPLETION OF SALE OF SHARES OF THE COMPANY SUMMARY The Company was informed by its controlling shareholder, ERI Holdings Limited that completion of the sale and purchase agreement entered into on 30th January, 2000 between ERI Holdings Limited, Mr. C.K. Lau, Gold Throne Finance Limited and Moscow Profits Limited took place on 7th March, 2000 whereby ERI Holdings Limited sold and Gold Throne Finance Limited and Moscow Profits Limited purchased 80,000,000 shares of HK$0.10 each representing 31.57% in the Company for an aggregate consideration of HK$70,400,000 (equivalent to HK$0.88 per share), subject to adjustments. Upon completion, the interest of ERI and parties acting in concert with it decreased to 8.97%. The Company announces that completion (`Completion') of the sale and purchase agreement dated 30th January, 2000 entered into between ERI Holdings Limited, Gold Throne Finance Limited and Moscow Profits Limited took place on 7th March, 2000 whereby ERI Holdings Limited sold and Gold Throne Finance Limited and Moscow Profits Limited purchased 80,000,000 shares of HK$0.10 each representing 31.57% (instead of 33.77% as set out in the Company's announcement dated 2nd February, 2000 due to the enlarged issued share capital of the Company as a result of exercise of share options by employees of the Company) in the Company for an aggregate consideration of HK$70,400,000 (equivalent to HK$0.88 per share), subject to adjustments. The shareholding of the Company after completion is as follows:- ERI Holdings Limited 8.97% Gold Throne Finance Limited 23.68% Moscow Profits Limited 7.89% Public 59.46% ------- 100.00% On completion of the Agreement, Martin Yue-Nien Tang (the non-executive chairman) and Professor Chia Wei Woo (an independent non-executive director), Ng Chun Kit, Wan Siu Kau (executive directors) resigned as directors and Chan Sheung Chiu, , Li Mee Sum, Lee Sai Wai and Kwong Tin Lap were appointed as new executive directors and Chan Sheung Chiu was appointed as the chairman of the board of directors of the Company. By Order of the Board Midas Printing Group Limited Lam Mei Lan Company Secretary Hong Kong, 7th March, 2000 The directors of the Company jointly and severally accept full responsibility for the accuracy of the information contained in this announcement 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.