PegBio Co., Ltd. — Earnings Release 1999

Aug 26, 1999

Listed Company Information

HUNG FUNG GROUP<1141> - Results Announcement Hung Fung Group Holdings Limited announced on 26/8/1999: (stock code: 1141) Year end date: 31/3/1999 Currency: HK$ Last Current Corresponding Period Period from 1/4/1998 from 1/4/1997 to 31/3/1999 to 31/3/1998 ('000) ('000) Turnover : 241,254 223,713 Profit-Continuing Operations - Operating Profit/(Loss) : 32,029 52,649 - Exceptional Items : - - - Discontinued Operations : - - Total Operating Profit : 32,029 52,649 Share of Profit/(Loss) of Associated Companies : - - Profit after Tax & MI : 43,357 44,600 % Change over Last Period : -2.79% EPS-Basic : 21.68 cents 29.12 cents -Diluted : N/A N/A Extraordinary (ETD) Gain/(Loss) : - - Profit after ETD Items : 43,357 44,600 Final Dividend per Share : NIL NIL (Specify if with other options) : - - B/C Dates for Final Dividend : - Payable Date : - B/C Dates for Annual General Meeting : 21/9/1999 to 28/9/1999 bdi. Other Distribution for Current Period : Bonus issue of warrants: 1 "2001 Warrant" for every 5 shares held B/C Dates for Other Distribution : 21/9/1999 to 28/9/1999 bdi. Remarks: (1) Earnings per share The calculation of basic earnings per share is based on the net profit attributable to shareholders for the year of HK$43,357,000 (1998:HK$44,600,000) and the 200,000,000 shares (1998: weighted average of 153,150,685 shares) in issue during the year. Diluted earnings per share has not been calculated as no diluting events existed during 1998 and 1999. (2) Dividend The 1998 interim dividend of HK$22,000,000 was proposed and paid by certain subsidiaries of the Group to their then shareholders prior to the Group reorganization. Details of the Group reorganization were set out in the Company's prospectus dated 25 February 1998. An interim dividend of HK$1 cent per share was paid on 10 March 1999. The directors do not recommend the payment of a final dividend in respect of the year ended 31 March 1999 (1998:Nil). (3) Bonus Issue The directors are pleased to announce that the Company intends to make a bonus issue of warrants (the "Warrants") (the "Bonus Issue") with the rights to subscribe for new shares of the Company at a price of HK$0.47 per share in cash, subject to adjustment, at any time from the date of issue of the Warrants to 28 September 2001 (both days inclusive) to all holders of ordinary shares whose names appear on the Register of Members of the Company on 28 September 1999 on the basis of one Warrant for every five existing shares held on 28 September 1999. Based on the existing issued share capital of the Company, full exercise of the Warrants at the initial subscription price of HK$0.47 per share would result in the issue of a total of 45,000,000 new shares and the receipt by the Company of Proceeds of HK$21.15 million before expenses. Fractional entitlements will not be allotted to shareholders but will be aggregated and sold for the benefit of the Company. The Warrants will be issued in registered form for the purpose of trading on the Stock Exchange and will be traded in board lots of 20,000 units of subscription rights of HK$0.47.