SHUN CHEONG<00650> - Announcement
The Stock Exchange has received a message from Shun Cheong Holdings
Limited which is reproduced as follows:-
" SHUN CHEONG HOLDINGS LIMITED
The Company refers to its announcements dated 28 September 2001 and 5
October 2001 (the "Announcements") relating to the proposed subscription
by independent third parties of 77,000,000 new shares in the Company.
Terms used in this announcement shall, unless the context otherwise
requires, have the same meaning in the Announcements.
As previously announced, at a hearing of the Court of First Instance on 5
October 2001, an order was made restraining three directors of the Company
from completing the Subscription until further order of the Court.
Further hearings were held at the Court of First Instance in the matter on
11 and 12 October 2001. No further order was made at these hearings and
the Interim Order has lapsed. Accordingly, the Company may proceed to
effect the Subscription.
By order of the Board of Directors
Shun Cheong Holdings Limited
Ou Ka Chi
Hong Kong, 15th October, 2001"