ITC CORPORATION<0372> - Announcement
The Stock Exchange has received a message from ITC Corporation Limited
which is reproduced as follows:-
"This statement is made at the request of The Stock Exchange of Hong Kong
Limited.
Further to the paragraph 39.2 announcement issued by the Company on
teletext on 27th October, 1999, the Company wishes to state the
following:-
The Company is in the process of negotiation with two listed companies not
connected with the directors, chief executives or substantial shareholders
of the Company or any of its subsidiaries or assoicates of any of them in
connection with the possible disposal of certain technology and
internet-related assets held by the Company which may or may not include
its interest in Star East Information Technology Corp. Such negotiation
may or may not materialise and the intended disposal may or may not
constitute a notifiable transaction of the Company. Although negotiations
are in progress, no agreement has been reached nor terms have been
finalised, and the intended disposal may of may not proceed. The Company
will issue a formal announcement in this regard shortly.
Save and except the aforesaid we confirm that there are not negotiations
or agreements relating to intended acquisitions or realisations which are
discloseable under paragraph 3 of the Listing Agreement, neither is the
Board aware of any matter discloseable under the general obligation
imposed by paragraph 2 of the Listing Agreement, which is or may be of a
price-sensitive nature. The Board also wishes to state that none of the
directors have dealt in the shares of the Company on 27th October, 1999.
Made by the order of the Board of ITC Corporation Limited the directors of
which individually and jointly accept responsibility for the accuracy of
this statement.
For and on behalf of
ITC CORPORATION LIMITED
Rosanna Chau
Managing Director
28th October, 1999"
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