All the resolutions contained in the notice dated 10 August 1999 convening the 1999 Annual General Meeting have been duly passed. The subscription price of Warrants is adjusted from HK$0.65 per share to HK$0.46 per share as set out in this announcement.

INTRODUCTION

On 10 August 1999, it was announced that the Directors of Tonic Industries Holdings Limited (the "Company") recommended the following proposals:

(1) the payment of a final dividend of HK5 cents per share in cash for the year ended 31 March 1999 payable to members whose names appear on the Register of Members of the Company on 28 September 1999; and

(2) a bonus issue of shares of HK$0.10 each to members whose names appear on the Register of Members of the Company on 28 September 1999 in the proportion of two new shares (the "Bonus Shares") for every five shares held on 28 September 1999 (the "Bonus Issue of Shares").

The abovementioned final dividend and the Bonus Issue of Shares were approved at the Annual General Meeting of the Company held on 28 September 1999. The Listing Committee of The Stock Exchange of Hong Kong Limited has granted listing of and permission to deal in the Bonus Shares.

ADJUSTMENT TO THE SUBSCRIPTION PRICE OF WARRANTS

The Directors have also announced that in accordance with the terms and conditions of the Company's outstanding warrants (the "Warrants"), the Bonus Issue of Shares would result in an adjustment to the subscription price of the Warrants.

As aforesaid, the Bonus Issue of Shares was approved by members of the Company on 28 September 1999 and the listing of and permission to deal in the Bonus Shares have been granted. The Bonus Issue of Shares has therefore become unconditional. Accordingly, with effect from Wednesday, 29 September 1999, the price at which holders of the outstanding Warrants may subscribe for shares of the Company has been adjusted from HK$0.65 per share to HK$0.46 per share in accordance with the terms and conditions of the Warrants. Such adjustment has been certified by the Company's auditors, Ernst & Young.

On behalf of the Board
Simon Ling Siu Man
Chairman & Managing Director

Hong Kong, 28 September 1999

© Copyright 1996-2023 irasia.com Ltd. All rights reserved.

DISCLAIMER: irasia.com Ltd makes no guarantee as to the accuracy or completeness of any information provided on this website. Under no circumstances shall irasia.com Ltd be liable for damages resulting from the use of the information provided on this website. TRADEMARK & COPYRIGHT: All intellectual property rights subsisting in the contents of this website belong to irasia.com Ltd or have been lawfully licensed to irasia.com Ltd for use on this website. All rights under applicable laws are hereby reserved. Reproduction of this website in whole or in part without the express written permission of irasia.com Ltd is strictly prohibited. TERMS OF USE: Please read the Terms of Use governing the use of our website.