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Matrix Holdings Limited — Capital/Financing Update 2005
Dec 22, 2005
49622_rns_2005-12-22_311b57ba-c4dc-442e-bffa-2baca146865d.pdf
Capital/Financing Update
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MATRIX HOLDINGS LIMITED 美力時集團有限公司[*]
(Incorporated in Bermuda with limited liability)
(Stock Code: 1005)
ANNOUNCEMENT PURSUANT TO RULE 13.18 OF THE LISTING RULES
This announcement is made in compliance with the disclosure obligation under Rule 13.18 of the Listing Rules.
This announcement is made by the Board of Directors (“the Board”) of Matrix Holdings Limited (the “Company”) in compliance with the disclosure obligation under Rule 13.18 of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited.
The Board announces that an indirect wholly-owned subsidiary of the Company entered into a facility letter with a bank on 21st December, 2005 (the “Facility Letter”) for a facility in an aggregate amount of HK$35,000,000 and which would expire on 30th November, 2006.
The Facility Letter includes, inter alia, a condition to the effect that Mr. Cheng Yung Pun, the controlling shareholder of the Company, should maintain not less than 51% of shareholding (whether directly or indirectly) of the Company. A breach of the above condition will constitute an event of default under the Facility Letter. If such an event of default occurs, the facilities will become immediately due and repayable. The Company intends to use the facilities to finance the general trading operation of the Company and its subsidiaries.
Disclosure will be included in subsequent interim and annual reports of the Company for so long as circumstance giving rise to the relevant obligation continues to exist.
As at the date of hereof, the Board comprises Mr. Cheng Yung Pun, Mr. Yu Sui Chuen and Ms. Cheng Wing See, Nathalie as executive Directors and Mr. Loke Yu alias Loke Hoi Lam, Mr. Mak Shiu Chung, Godfrey and Mr. Wan Hing Pui as independent non-executive Directors.
By order of the Board of Cheng Yung Pun Chairman
Hong Kong, 21st December, 2005
* For identification purpose only
“Please also refer to the published version of this announcement in The Standard”
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