Fu Yu

Fu Yu: Ng Hock Ching, a general manager of two Fu Yu subsidiaries, has made a voluntary conditional cash partial offer at $0.09 per share, to acquire up to 10.3% of Fu Yu shares not already owned by him. Ng has deemed interest of 6.9% in Fu Yu shares. The partial offer is made for investment purpose, as Ng’s existing holdings were acquired at much higher cost, and he wishes to average down the overall cost of investment. Shareholders will be entitled to accept the partial offer in respect of 10.3% of their shareholdings (ie. 103 shares for every 1,000 shares held). Shareholders may also tender shares in excess of his entitlement, but the excess tender shares will only be acquired on a pro-rata basis, and only if there are other shareholders who do not accept their entitlement.