SOUNDWILL HOLD<0878> - Announcement
SOUNDWILL HOLDINGS LIMITED
(Incorporated in Bermuda with limited liability)
EXPIRY OF THE 1999 WARRANTS
Expiry of the 1999 Warrants
The board of directors (the ``Directors'') of Soundwill Holdings
Limited (the ``Company'') would like to remind holders of warrants
of the Company entitling the holders to subscribe for new shares of
HK$0.10 each (``Shares'') in the Company at a subscription price of
HK$3.35 per share from 27th June, 1997 and expiring on 26th June,
1999 (the ``1999 Warrants'') that in accordance with the terms and
conditions of the 1999 Warrants, the subscription rights attaching
thereto will expire after the close of business on Saturday, 26th
June, 1999. Any subscription rights attaching to the 1999 Warrants
which have not been exercised on such date will lapse and the 1999
Warrants will cease to be valid for any purpose. The last trading
day of the 1999 Warrants on The Stock Exchange of Hong Kong Limited
(the ``Stock Exchange'') shall be Tuesday, 22nd June, 1999.
EXPIRY OF SUBSCRIPTION RIGHTS ATTACHING TO THE 1999 WARRANTS
In relation to the expiry of subscription rights attaching to the
1999 Warrants, the Company has made the following arrangements
regarding dealings and transfers of the 1999 Warrants:
1. The last trading day of the 1999 Warrants on the Stock Exchange
is Tuesday, 22nd June, 1999.
2. The registered holders of the 1999 Warrants who wish to exercise
the subscription rights attaching to the 1999 Warrants must lodge
with the Company's Hong Kong branch share registrars, Standard
Registrars Limited (the ``Share Registrar''), at 5th Floor, Wing On
Centre, 111 Connaught Road, Central, Hong Kong the following at or
before 4:00 p.m. on Saturday, 26th June, 1999:
(i) the relevant certificates of 1999 Warrants;
(ii) the duly completed and signed subscription forms; and
(iii) remittances for the relevant subscription moneys.
3. Holders of the 1999 Warrants who have not registered such 1999
Warrants in their names and wish to exercise the subscription rights
thereunder must lodge with the Share Registrar at the abovementioned
address the following at or before 4:00 p.m., Saturday, on 26th June,
1999:
(i) the relevant duly executed and stamped instruments of transfer
and/or other documents of title;
(ii) the relevant certificates of 1999 Warrants;
(iii) the duly completed and signed subscription forms; and
(iv) evidence of remittance for the relevant subscription moneys.
Subscription forms lodged with the Share Registrar later than 4:00
p.m. on Saturday, 26th June, 1999 will not be accepted. Shares will
be issued not later than 28 days after the due exercise of the
subscription rights attaching to the 1999 Warrants and will rank pari
passu in all respects with the shares of the Company in issue on the
relevant subscription date.
4. Trading of the 1999 Warrants on the Stock Exchange will cease
after close of trading on Tuesday, 22nd June, 1999. Application will
be made for the withdrawal of listing of the 1999 Warrants on the
Stock Exchange with effect from close of business on Friday, 25th
June, 1999.
GENERAL
Details of the expiry of the 1999 Warrants will be included in a
circular to be despatched to the current warrantholders for their
information as soon as possible.
The closing prices of Shares and 1999 Warrants on the Stock Exchange
on 4th June, 1999 (being the date of this announcement) were HK$0.197
per Share and HK$0.01 per 1999 Warr
By order of the Board
Yip Kwai Cheung
Company Secretary
Hong Kong, 4th June, 1999
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