UDL HOLDINGS<0620> - Announcement
The Stock Exchange of Hong Kong Limited takes no
responsibility for the contents of this announcement,
makes no representation as to its accuracy or completeness
and expressly disclaims any liability whatsoever for any
loss howsoever arising from or in reliance upon the whole
or any part of the contents of this announcement.
UDL Holdings Limited
(incorporated in Bermuda with limited liability)
Announcement
Summary
The board of directors (the "Board") of UDL Holdings
Limited (the "Company") would like to update the
shareholders and the public on the postponement of the
court hearing date of a winding-up petition presented by
Mr. So Kam Ming together with 3 other claimants (the
"Petitioners") against UDL Ship Management Limited ("UDL
Ship Management"), a wholly-owned subsidiary of the
Company, to 31 May, 1999.
As previously announced on 28 April 1999, the captioned
winding-up petition is filed by the Petitioners against
UDL Ship Management in relation to an outstanding
severance payment totalling HK$129,005.70 together with
interest thereon. At a hearing on 3 May, 1999, the Court
granted an order that the said petition be adjourned to 31
May, 1999.
The Company is still negotiating a scheme of arrangement
with creditors, therefore, the Board is of the view that
the aforesaid winding-up petition has no significant
impact on the Company.
Save as disclosed herein, the Board of the Company is not
aware of any other matter discloseable under the general
obligation imposed by paragraph 2 of the Listing Agreement,
which is or may be of a price sensitive nature.
Meanwhile shareholders of the Company should exercise
extreme caution when dealing in the shares of the Company.
Further announcement will be made when there are any
material development regarding the above-mentioned matter.
By Order of the Board
UDL Holdings Limited
Leung Yat Tung
Chairman
Hong Kong, 3 May, 1999
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