09:31 MAGICIAN IND<00526>-Announcement & Resumption of Trading(4) Mr. Zee, aged 32, is an investment manager of Transpac Capital Limited, the investment manager of funds for which Transpac Nominees Pte Limited acts as custodian and the parent of Transpac Nominees Pte Limited, which in turn is a substantial shareholder of the Company (for the purposes of the Listing Rules). It is principally engaged in private equity investment in the Greater China area and South East Asia. Mr. Zee has extensive experience in investment banking and direct investment industries. He is a Chartered Financial Analyst, a member of the Association for Investment Management and Research, a member of the Hong Kong Society of Financial Analysts, and a member of the Hong Kong Securities Institute. Mr. Zee obtained his Bachelor of Arts degree in Economics/International Area Studies from the University of California, Los Angeles. He holds directorship in a number of private companies. Mr. Zee does not have interests in any shares in the Company or any of its associated companies within the meaning of Part XV of the Securities and Futures Ordinance (the "SFO"). Save for Mr. Zee's position as investment manager with Transpac Capital Limited and the relationship between Transpac Capital Limited and Transpac Nominees Pte Limited as described in the above, each of Mr. Zee and Transpac Capital Limited does not have any relationship, whether as investment manager or otherwise, with any other directors, senior management, substantial shareholders or the controlling shareholder of the Company. Mr. Zee has been General Manager of the Company since 29 September 2004 for which he receives remuneration of HK$20,000 per month plus expenses reasonably incurred on the basis of the interim arrangement pending the entering into of the service agreement. This contract is for a rolling period of six months, terminable on one week's notice. The terms of Mr. Zee's service agreement as executive director have not been determined, but an announcement will be made in due course with the relevant details in accordance with the Rules Governing the Listing of Securities (the "Listing Rules") on The Stock Exchange of Hong Kong Ltd. Mr. Zee has not served as a director of a listed company before. Recent developments The Board refers to the circular and the notice both dated 6 December 2004 in relation to the special general meeting (the "24 December SGM") for the purposes of the appointment of two additional independent non-executive directors and fixing the maximum number of directors of the Company to be held on 24 December 2004. As explained in the circular dated 6 December 2004, the 24 December SGM was convened pursuant to the Requisition Notice (as defined in the circular) by two shareholders of the Company, Primewell Investment Limited and Ms. Chan Ying Gi, Dorice (for further details on the shareholders, see Note 3 below). On 16 December 2004, the Company received a notice of the same date from Ms. Chan Ying Gi, Dorice, proposing to nominate six (6) persons to be appointed as additional non-executive directors of the Company at the 24 December SGM. A supplementary circular dated 17 December 2004 setting out the details of the persons nominated to be appointed as additional non-executive directors of the Company was issued and dispatched to the shareholders of the Company by, and under the name of, Mr. Kong without the proper authorisation from the Board and in doing so, Mr. Kong was, and had caused the Company to be, in breach of Listing Rules 13.73 and 13.74 regarding the required notice period for the issue of the supplementary circular dated 17 December 2004 and the full biographical details of the proposed directors to be disclosed in the supplementary circular.