Novautek Technologies Group Limited - M&A Activity 2000

Listed Company Information




KONG SUN HOLD<0295> - Announcement KONG SUN HOLDINGS LIMITED EXTENSION OF COMPLETION DATE FOR MAJOR AND CONNECTED TRANSACTION INVOLVING ISSUE OF NEW SHARES The completion date of the major and connected transaction involving issue of new shares will be extended to on or before 18 April 2000. The board of directors of the Company (the "Board") refers to the circular to shareholders dated 15 September 1999 and an updated circular to the shareholders dated 1 February 2000 in relation to acquisition of 55% interest in Pioneer Heritage Sdn Bhd by Hua Chiao Development Limited, ("Hua Chiao"), a wholly-owned subsidiary of the Company, from Kong Sun Enterprise Sdn Bhd ("KSE"), a Malaysian company beneficially owned as to 70% by Mr. Kong Look Sen ("Mr Kong") and his immediate family. The Board announces that the terms and conditions as stipulated in the Agreement for the transaction cannot be fulfilled on 31 March 2000. The outstanding condition precedent is the legal opinion from the Malaysian lawyer is not yet obtained. A supplemental agreement has been signed by Hua Chiao, KSE and Mr. Kong on 31 March 2000 to extend the completion date to 18 April 2000. Therefore, completion of the transaction will be extended to on or before 18 April 2000. By Order of the Board KONG SUN HOLDINGS LIMITED Kong Look Sen Chairman Hong Kong, 31 March 2000

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