Novautek Technologies Group Limited — Earnings Release 2000

Mar 27, 2000

Listed Company Information

APPLIED INT'L<0519> - Results Announcement Applied International Holdings Limited announced on 24/3/2000: (stock code: 519) Year end date: 30/6/2000 Currency: HKD (Unaudited) (Unaudited) Last Current Corresponding Period Period from 1/7/1999 from 1/7/1998 to 31/12/1999 to 31/12/1998 ('000) ('000) Turnover - Continuing : 100,287 15,693 - Discontinued : - - Operating Profit/(Loss) - Continuing : 23,698 38,905 - Discontinued : - - Total Operating Profit/(Loss) : 23,698 38,905 Share of Profit/(Loss) of Associated Companies : 1 (4,080) Share of Profit/(Loss) of Jointly Controlled Entities : - - Profit/(Loss) after Tax & MI : 19,495 35,021 % Change over Last Period : -44% EPS/(LPS)-Basic : 2.06 cents 3.65 cents -Diluted : N/A N/A Extraordinary (ETD) Gain/(Loss) : N/A N/A Profit/(Loss) after ETD Items : 19,495 35,021 Interim Dividend per Share : NIL 3.50 cents (Specify if with other options) : - - B/C Dates for Interim Dividend : N/A Payable Date : - B/C Dates for (-) General Meeting : - Other Distribution for Current Period : one bonus warrant for every five ordinary shares at subscription price HK$0.48 per price B/C Dates for Other Distribution : 25/4/2000 to 30/4/2000 bdi. Remarks: (1) Profits from operations 1999 1998 HK$'000 HK$'000 The profit from operations includes:- Gain on disposal of properties in the United States 18,236 56,330 Write back of the unrealized holding loss on listed investments 10,000 - Gain on disposal of listed investment 4,806 - Gain on convertible bonds repurchased 1,290 3,070 Loss on disposal of property, plant and equipment (850) - Gain on disposal of subsidiaries in Hong Kong - 965 ---------- ---------- 33,482 60,365 ======== ======== (2) Basic earnings per share The calculation of the basic and diluted earnings per share is computed based on the revised Statement of Standard Accounting Practice No.5 "Earnings Per Share" issued by the Hong Kong Society of Accountants. The calculation of basic earnings per share for the six months ended 31st December 1999 is based on the profit attributable to shareholders of approximately HK$19,495,000 (1998: HK$35,021,000) and on the weighted average of 946,343,641 (1998: 959,118,657) shares in issue during the period. No diluted earnings per share has been presented for both periods as the conversion of Company's outstanding convertible bonds would result in an increase in net profit per share and the subscription prices of both the Company and iQuorum Cybernet Limited's (formerly known as RJP Electronics Limited) share options and the exercise price of Company's warrant are higher than the fair value per share. (3) Warrants Issue Pursuant to an ordinary resolution to grant a general mandate for the company to issue securities passed at the annual general meeting of the Company held on 23rd December, 1999, the directors will make a bonus issue of warrants to shareholders on the basis of one warrant for every five ordinary shares held by the shareholders. Each of these warrants confers rights to the registered holder to subscribe new shares of the Company at a subscription price of HK$0.48 per share, subject to adjustment, exercisable from the date of commencement of trading until 30th April, 2004. A statement that application has been made to the Exchange for listing of and permission to deal in the warrants. The register of members will be closed from 25th April, 2000 to 30 April, 2000, both days inclusive, for the purpose of determining entitlements to the Warrants Issue. No transfers of Shares may be registered during the period. For more details, please refer to the press announcement today.