Z-OBEE HOLDINGS LIMITED
(Incorporated in Bermuda)
(Co. Regn. No. 39519)
("Company")
THE PROPOSED LISTING OF TAIWAN DEPOSITORY RECEIPTS
ON THE TAIWAN STOCK EXCHANGE
Reference is made to the Company’s announcements dated 16 August 2010 and 4 October 2010 in relation to the Proposed TDR Listing (the “Announcements”). Capitalised terms used in this announcement shall, unless the content otherwise required, have the same meanings as defined in the Announcements.
The board of directors of the Company (the “Board”) is pleased to announce that on 4 November 2010, the Company has obtained the required approval from the Taiwan Securities and Futures Bureau for the offering and listing of not more than 80 million units of TDR, representing not more than 40 million New Shares to be issued by the Company and not more than 40 million existing Shares to be transferred by the Vendors and Mr. Lu to a depository bank in Taiwan. The indicative offer price for each TDR is NT$11 (equivalent to approximately HK$2.8227 per Share or approximately S$0.4672 per Share), amounting to an aggregate of approximately NT$880 million for all the 80 million units of TDRs. The approval is subject to compliance of the applicable shareholding spread requirement of the Taiwan Stock Exchange after completion of the underwriting exercise.
Further announcement(s) will be made by the Company in relation to the Proposed TDR Listing in accordance with the requirements of the Listing Rules and Listing Manual as and when appropriate.
Shareholders and potential investors should note that any indicative offer price referred to in this announcement or elsewhere in relation to the Proposed TDR Listing is strictly subject to the final agreement to be made between the Company, the Vendors, Mr. Lu and the underwriter of the Proposed TDR Listing and should not be taken to be in any way a statement or indication of the expected, forecast or actual offer price in relation to the Proposed TDR Listing. Accordingly, there is no assurance that the actual offer price in relation to the Proposed TDR Listing will not vary from the same. The Company will, upon conclusion of the book-building exercise, in consultation with the underwriter, fix the actual offer price, taking into consideration, inter alia, the financial performance and prospects of the Company and the market response to the Proposed TDR Listing.
As the Proposed TDR Listing is subject to, among others, the then prevailing market and economic conditions, the Proposed TDR Listing may or may not proceed. As such, shareholders and potential investors of the Company are advised to exercise caution when dealing in the Shares. When in doubt, shareholders and potential investors of the Company are strongly advised to seek independent advice from their bankers, stockbrokers, solicitors or other professional advisers.
Shareholders and potential investors of the Company should further note that this announcement does not constitute, and is not intended to be, an offer or a notice, advertisement calling or drawing attention to an offer to any persons to subscribe for any TDRs or Shares or a statement intended to induce any person to apply for any TDRs in the Proposed TDR Listing.
For illustrative purpose of this announcement, approximately HK$1 = NT$3.8970 and approximately S$1 = NT$23.547.
BY ORDER OF THE BOARD
Wang Shih Zen
Chairman and Chief Executive Officer
4 November 2010