YNBY International Limited — M&A Activity 2000

Mar 7, 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 A FURTHER 14.9% INTEREST IN QUOTEPOWER INTERNATIONAL LIMITED The Board announced on 9th February, 2000 (the "Minority Announcement") that the Company and its wholly owned subsidiary, Choudary Limited, had entered into conditional sale and purchase agreements (the "Minority Agreements") with two of the three minority shareholders in QPI (the "Financial Investors") to acquire approximately 14.9% of the issued share capital of QuotePower International Limited ("QPI") (the "Minority Acquisition"). The Board is pleased to announce that the Minority Acquisition was completed on 6th March, 2000 ("Completion") and that pursuant to Completion, the Company issued 10,258,000 ordinary shares of HK$0.10 each in the Company at $2.50 per share to the two Financial Investors in full satisfaction of the consideration for the Minority Acquisition. The Board is pleased to announce that the Minority Acquisition was completed on 6th March, 2000 ("Completion"). Upon Completion, pursuant to the Minority Agreements, the Company acquired, through its wholly owned subsidiary, Choudary Limited, approximately 14.9% of the issued share capital of QPI, and the Company has allotted and issued 10,258,000 ordinary shares of HK$0.10 each in the Company at $2.50 per share (the "Consideration Shares") to the two Financial Investors, in full satisfaction of the consideration required to be paid for the Minority Acquisition. 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 8th March, 2000. The directors of the Company (the "Directors") have noted the recent increases in the price and the turnover of the shares of the Company and wish to state that, other than the contents of this announcement, they are not aware of any reasons for such increases. The Directors also confirm that there are no negotiations or agreements relating to intended acquisitions or realizations which are discloseable under paragraph 3 of the Listing Agreement, neither is the Board aware of any matter discloseable under the general obligation imposed by paragraph 2 of the Listing Agreement, which is or may be of a price-sensitive nature. 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, 6th March, 2000