YNBY International Limited — M&A Activity 2000

Mar 30, 2000

Listed Company Information

ABC COM (HOLD)<0030> - 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. ABC COMMUNICATIONS (HOLDINGS) LIMITED (Incorporated in Bermuda with limited liability) COMPLETION OF ACQUISITION OF THE REMAINING 10.6% INTEREST IN QUOTEPOWER INTERNATIONAL LIMITED The Board announced on 10th March, 2000 (the "Balance Announcement") that the Company and its wholly owned subsidiary, Choudary Limited, had entered into a conditional sale and purchase agreement (the "Balance Agreement") with the remaining minority shareholder (the "Balance Investor") in QuotePower International Limited ("QPI") to acquire approximately 10.6% of the issued share capital of QPI (the "Balance Acquisition"). The Board is pleased to announce that the Balance Acquisition was completed on 29th March, 2000 ("Completion") and that pursuant to Completion, the Company issued 7,250,000 ordinary shares of HK$0.10 each in the Company at $2.50 per share to the Balance Investor in full satisfaction of the consideration for the Balance Acquisition. The Board is pleased to announce that the Balance Acquisition was completed on 29th March, 2000 ("Completion"). Upon Completion, pursuant to the Balance Agreement, the Company acquired, through its wholly owned subsidiary, Choudary Limited, approximately 10.6% of the issued share capital of QPI, and the Company has allotted and issued 7,250,000 ordinary shares of HK$0.10 each in the Company at $2.50 per share (the "Consideration Shares") to the Balance Investor, in full satisfaction of the consideration required to be paid for the Balance Acquisition. The Consideration Shares are equivalent to 1.55 per cent. of the total issued share capital following Completion. Upon Completion, the Company, through Choudary Limited, will own the entire issued capital of QPI. The Consideration Shares will rank pari passu with the existing issued ordinary shares of the Company. The Stock Exchange of Hong Kong Limited has granted conditional approval to the listing of and permission to deal in the Consideration Shares and dealings are expected to commence on 31st March, 2000. This announcement is made by order of the Board of Directors of the Company, who individually and jointly accept responsibility for the accuracy of this announcement. By Order of the Board of directors of ABC Communications (Holdings) Limited Patricia Yeung Shuk Kwan Managing Director Hong Kong, 29th March, 2000