Rego Interactive Co., Ltd — Audit Report / Information 1998

Apr 29, 1999

Listed Company Information

TIANJIN BOHAI<1065> - Announcement The Stock Exchange of Hong Kong Limited 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. TIANJIN BOHAI CHEMICAL INDUSTRY (GROUP) COMPANY LIMITED (a joint stock limited company incorporated in the People's Republic of China with limited liability) FINAL RESULTS FOR THE YEAR 1998 The meeting of the board of directors approving the final results for the year ended 31st December 1998 will be delayed. The Company will hold the meeting of the board of directors not later than 31st May 1999. Separate notification will be issued at the appropriate time for the date of the meeting. Tianjin Bohai Chemical Industry (Group) Company Limited (the "Company") announces that the Company requires more time to provide further information in respect of the arrangements of certain bank borrowings of the Group to the auditors for finalizing the audit report. Accordingly, the Company will delay the meeting of the board of directors which was originally planned to be held on 29th April 1999 to approve the final results for the year ended 31st December 1998. The Company has announced a profit warning statement on 15th January 1999 in view of the expected significant losses for the year ended 31st December, 1998. The Company will hold the meeting of the board of directors not later than 31st May 1999. Separate notification will be issued at the appropriate time for the date of the meeting. In addition, if the meeting of the board of directors is held later than 14th May 1999, this will not comply with the requirements of Article 53 of the Company's Articles of Association that the Company should hold the annual general meeting within six months after the end of the financial year. In this case, further announcement will be issued to delay the date of holding the annual general meeting. In the opinion of the lawyers in the People's Republic of China ("PRC"), the delay will not lead to any significant adverse impact on the Company's operation although the requirements to announce results within four months under Article 148 of the Company's Articles of Association have not been complied with. Permission in respect of the delay and waiver of the non-compliance have been obtained from the Shanghai Stock Exchange and the China Securities Regulatory Commission. The relevant government authorities in the PRC have permitted that the Company's "A" shares will continue to be trading during the period of delay in announcing final results. Shareholders and investors of the Company are advised to exercise caution when dealing in the shares of the Company. By Order of the Board Chairman Dai Chengwen Tianjin, 28th April 1999