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DeTeam Company Limited
(Incorporated in the Cayman Islands with limited liability)
(Stock code: 8112)
ANNOUNCEMENT
This announcement is made pursuant to Rule 17.10 of the GEM Listing Rules.
Further to the Company’s announcement dated 9 October 2007, the Board is pleased to
announce that after trading hours on 30 November 2007, the Company has, through its
wholly-owned subsidiary, Top Globe Resources (China) Limited (U(7)"!)
(a Hong Kong incorporated company), entered into a MOU with Inner Mongolia Hai Shen
Coal Mining Group Company Limited (Zi"!) (a PRC incorporated
company), for a proposed investment in one of the coal mines owned and/or managed by
the PRC Party. Based on information available to the Company, the PRC Party currently
operates about three coal mines in Inner Mongolia, PRC. The Proposed Investment may
constitute a possible major transaction for the Company under Chapter 19 of the GEM
Listing Rules.
At the request of the Company, trading of the Shares of the Company has been suspended
on the Stock Exchange from 9:30 a.m. on 3 December 2007 pending the release of this
announcement. An application has been made to the Stock Exchange for the resumption of
trading of the Shares with effect from 9:30 a.m. on 4 December 2007.
As the Proposed Investment may or may not materialise, shareholders of the Company
and public investors are advised to exercise caution when dealing in the Shares.
This announcement is made pursuant to Rule 17.10 of the Rules Governing the Listing of
Securities on the Growth Enterprise Market of
Further to the Company’s announcement dated 9 October 2007, the Board is pleased to announce
that after trading hours on 30 November 2007, the Company has, through its wholly-owned
subsidiary, Top Globe Resources (China) Limited (U(7)"!) (a Hong Kong
incorporated company), entered into a memorandum of understanding (“MOU”) with Inner
Mongolia Hai Shen Coal Mining Group Company Limited (Zi"!)
(a PRC incorporated company) (the “PRC Party”) for a proposed investment in one of the
coal mines owned and/or operated by the PRC Party (the “Proposed Investment”). Detailed
terms (including the structure and consideration) of the Proposed Investment are still subject
to negotiation as at the date of this announcement. No binding agreement in relation to the
Proposed Investment has been entered into. The Proposed Investment may constitute a possible
major transaction for the Company under Chapter 19 of the GEM Listing Rules.
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Based on information available to the Company, the PRC Party is a company incorporated in
the People’s Republic of China (the “PRC”) and currently owns and/or operates about three
coal mines in Inner Mongolia, the PRC. To the best of the knowledge, information and belief
of the Directors, having made all reasonable enquiries, the PRC Party is not a connected
person (as defined in the GEM Listing Rules) of the Company.
The Company will keep the market informed by way of announcement in compliance with the
requirements of the GEM Listing Rules as and when appropriate. If the Company subsequently
enters into a definitive agreement relating to the Proposed Investment, it will disclose all
relevant information in an appropriate announcement, in accordance with the GEM Listing
Rules, including the material terms of the Proposed Investment and relevant details of the coal
mines.
At the request of the Company, trading of the shares of the Company (the “Shares”) has been
suspended on The Stock Exchange of Hong Kong Limited (the “Stock Exchange”) from 9:30
a.m. on 3 December 2007 pending the release of this announcement. An application has been
made to the Stock Exchange for the resumption of trading of the Shares with effect from 9:30
a.m. on 4 December 2007.
As the Proposed Investment may or may not materialise, shareholders of the Company
and public investors are advised to exercise caution when dealing in the Shares.
By Order of the Board
Mak Shiu Chung, Godfrey
Chairman
Hong Kong, 3 December 2007
for identification purpose only
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At the date of this announcement, the board of directors of the Company comprises:
Executive Directors
Mr. Mak Shiu Chung, Godfrey
Mr. Zhang Chao Liang
Mr. Wang Hon Chen
Independent Non-Executive Directors
Mr. Kwok Chi Shing
Mr. Tsang Wai Sum
Mr. Yu Yang
This announcement, for which the directors of the Company (the “Directors”) collectively and
individually accept full responsibility, includes particulars given in compliance with the GEM
Listing Rules for the purpose of giving information with regard to the Company. The Directors,
having made all reasonable inquiries, confirm that, to the best of their knowledge and belief;
(1) the information contained in this announcement is accurate and complete in all material
respects and not misleading, (2) there are no other matters the omission of which would make
any statement in this announcement misleading, and (3) all opinions expressed in this
announcement have been arrived at after due and careful consideration and are founded on
bases and assumptions that are fair and reasonable.
This announcement will remain on the GEM website www.hkgem.com on the “Latest Company
Announcements” page for at least 7 days from the date of its posting.
ANNOUNCEMENT |
