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PRIVATE PLACING OF 400,000,000 UNITS OF WARRANTS
BEING WARRANTS IN REGISTERED FORM
TO SUBSCRIBE FOR NEW SHARES IN THE CAPITAL OF
CEC INTERNATIONAL HOLDINGS LIMITED
AT AN ISSUE PRICE OF HK$0.0625 PER UNIT OF WARRANT
Placing Manager
New Japan Securities International (H.K.) Ltd.
Placing Agents
| New Japan Securities International (H.K.) Ltd. |
Yicko Securities Limited | Yicko GA Network Securities Limited |
| CEC International Holdings Limited will on 21st June, 2000 issue a prospectus relating to its private placing of warrants which was announced by the Company on 16th May, 2000. Further details of the Warrant Placing are set out below. |
On 16th May, 2000, the board of directors (the "Board") of CEC International Holdings Limited (the "Company") announced its proposal to issue 400,000,000 warrants (the "Warrants") in registered form entitling the holders thereof to subscribe up to a maximum aggregate amount of HK$59 million for new shares of HK$0.10 each (the "Shares") in the Company at an issue price of HK$0.0625 per unit of Warrant by way of a private placing through placing agents (the "Placing Agents"), New Japan Securities International (Hong Kong) Limited, Yicko Securities Limited and Yicko GA Network Securities Limited (the "Warrant Placing"). The issue of the Warrants was approved by the shareholders of the Company at a special general meeting of the Company held on 19th June, 2000. The board lot for trading of the Warrants is 40,000 units carrying the rights to subscribe for a total of 4,000 new Shares in cash on the basis of an initial subscription price of HK$1.475 per new Share, subject to adjustment, at any time between the date of the issue of the Warrants, which is expected to be on or about 3rd July, 2000, up to and including 30th September, 2003. Upon the exercise of the subscription rights attached to the Warrants, payment of the subscription moneys in respect thereof must be made to the Company in immediately available funds.
The Placing Agents have jointly and severally agreed to procure, on a best effort basis, that the Warrants will be placed with not less than 100 selected independent professional, institutional and/ or other investors.
The Warrant Placing is conditional upon, inter alia, the Listing Committee of The Stock Exchange of Hong Kong Limited (the "Stock Exchange") granting the listing of, and permission to deal in, the Warrants and any new Shares falling to be issued upon the exercise of the subscription rights attached thereto. Application has been made to the Stock Exchange for the listing of, and permission to deal in, the Warrants and any new Shares falling to be issued upon the exercise of the subscription rights attached thereto as stated in a prospectus of the Company to be dated 21st June, 2000 (the "Prospectus"). It is expected that the Warrant certificates will be available on 3rd July, 2000 and dealings in the Warrants on the Stock Exchange are expected to commence on 6th July, 2000.
Copies of the Prospectus will be despatched to the shareholders of the Company for information purposes only on 21st June, 2000 and may be obtained from New Japan Securities International (Hong Kong) Limited at Room 4701, 47th Floor, Manulife Plaza, The Lee Gardens, 33 Hysan Avenue, Causeway Bay, Hong Kong, Yicko Securities Limited at 19th Floor, Tung Ning Building, 125-127 Connaught Road, Central, Hong Kong and Yicko GA Network Securities Limited at 1704-05 Tung Ning Building, 125-127 Connaught Road, Central, Hong Kong from 21st June, 2000 to 12:00 noon on 27th June, 2000. As set out in the Prospectus, certain relevant documents will be available for inspection during normal business hours from 21st June, 2000 up to and including 6th July, 2000 at the office of F. Zimmern & Co., 7th Floor, Central Building, 1 Pedder Street, Central, Hong Kong.
Application for the Warrants will only be considered on the basis of the Prospectus.
Hong Kong, 20th June, 2000
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