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Press Release on May 16, 2001
Q9 TECHNOLOGY RECEIVED SATISFACTORY RESPONSE FROM
PLACING
SUBSCRIPTION RATE REACHED 2.3 TIMES
Q9 Technology Holdings Limited ("Q9" or the " Company"; stock code : 8129), one of the leading technology companies in Hong Kong engaged in software and embedded systems development, announced today that Company's placing received satisfactory response.
The Company offered 250,000,000 shares for subscription by way of placing. This 250,000,000 placing shares were fully subscribed, and have been conditionally allocated in full to professional, institutional and other investors. The Company may issue up to 37,500,000 additional new shares under the over-allotment option. Applications for placing received well response and it recorded a subscription rate of approximately 2.3 times. The issue price is HK$0.45 per share.
The Company's shares will commence dealing on the GEM board of The Stock Exchange of Hong Kong Limited ("Hong Kong Stock Exchange") on Friday, May 18, 2001. Anglo Chinese Corporate Finance, Limited ('Anglo Chinese') is the sponsor of the share offer and DBS Asia Capital Limited ('DBS') is the bookrunner and lead manager.
Mr. Mark Leung, chairman of the Company said, "We believe that most of the placees of the share offer fully recognise the Company's business strategies. Q9 CIS is the most effective and efficient character input system readily available in the market that can be applied to a variety of digital and communication products operating on different operational platforms. Hence, its growth potential is enormous. The satisfactory subscription rate proves that investors have confidence in Q9's experienced management team. They wisely grasped this valuable investment opportunity and are fully confident about Q9's future."
Mr Leung added, "Facing this growing market, the Company has formulated compelling strategies to maintain its leading position and competitiveness. The share issuance is to complement these strategies by using the net proceeds for R&D expenditure, marketing and promotion, establishing distribution centers in six major cities in the PRC. We strongly believe Q9 CIS will become the standard character input and operating systems of all small and medium sized electronic devices, applicable to all technological products and bring substantial return to our shareholders."
Company Background:
Q9 Technology Holdings Limited is one of the leading technological companies in software and embedded systems development. The group's principal technological innovation is its "matrix mapping system" for inputting text and other data and operating the functions and features of small and medium sized electronic devices. Q9 has a strong shareholding base including Asia Orient Holdings Limited (stock code: 214) and Culturecom Holdings Limited (stock code: 343). Upon the successful listing of the Company, Asia Orient and Culturecom will remain the major shareholders of the Company and hold 32% and 24% of the Company.
For further information, please contact:
Q9 Technology Holdings Limited
Nicole Pang
| Tel | : 2520 2226 |
| Fax | : 2520 0550 |
| : info@q9tech.com | |
| Website | : www.q9tech.com |
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