09:16 VITOP BIOENERGY<08199> - 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. VITOP BIOENERGY HOLDINGS LIMITED (Incorporated in the Cayman Islands with limited liability) NOTICE OF WITHDRAWAL OF LISTING ON THE GROWTH ENTERPRISE MARKET OF THE STOCK EXCHANGE OF HONG KONG LIMITED, RESULTS OF THE EXTRAORDINARY GENERAL MEETING, REDUCTION OF THE NOTICE PERIOD IN RESPECT OF THE PROPOSED WITHDRAWAL, TERMINATION OF THE EXISTING SHARE OPTION SCHEME, ADOPTION OF THE PROPOSED SHARE OPTION SCHEME AND ADOPTION OF THE PROPOSED ARTICLES OF ASSOCIATION IN SUBSTITUTION FOR THE EXISTING ARTICLES OF ASSOCIATION The Board is pleased to announce that an ordinary resolution approving, among others, the withdrawal of the listing of the Shares on GEM was passed by the Shareholders at the Extraordinary General Meeting held on 23 January 2003. Notice is hereby given that the last day of dealings in the Shares on GEM will be 7 February 2003 and the listing of the Shares on GEM will be withdrawn with effect from 9:30 a.m. on 10 February 2003. It is expected that dealings in the Shares on the Main Board (stock code: 1178) will commence at 9:30 a.m. on 10 February 2003. The Proposed Withdrawal and the Introduction will not have any effect on the existing share certificates of the Company and such share certificates will continue to be good evidence of legal title. In addition, the Proposed Withdrawal and the Introduction will not involve any transfer or exchange of the existing share certificates of the Company. No change is proposed to be made to the board lot size, the trading currency of the Shares and the share registrars of the Company in connection with the Proposed Withdrawal and the Introduction. Shares will continue to be traded in board lots of 10,000 Shares each following the Introduction. Warning: There is no assurance that permission will be obtained from the Stock Exchange for the Introduction. Shareholders and potential investors should be aware that the implementation of the Proposed Withdrawal and the Introduction are subject to the conditions set out below being fulfilled and thus may or may not become effective. Accordingly, the Proposed Withdrawal and the Introduction may or may not proceed. Shareholders and potential investors are advised to exercise caution when dealings in the Shares. By order of the Board VITOP BIOENERGY HOLDINGS LIMITED Hung Kai So Chairman Hong Kong, 23 January 2003 This announcement, for which 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 enquiries, 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. The above announcement is a summary only. For the full version of this announcement, please refer to the "Latest Company Announcements" page on the GEM website of http://www.hkgem.com.