09:52 MASSIVE RES<00070> - Announcement & Resumption (12) Trading in the Shares has been suspended since 2:30 p.m. on 7 January 2005 pending the release of this announcement. Application has been made by the Company to the Stock Exchange for resumption of trading of the Shares from 9:30 a.m. on 24 January 2005. DEFINITIONS In this announcement, unless the context requires otherwise, the following terms have the meanings as set out below: "Acquisition" the acquisition of the Sale Shares and the Sale Loan in Walden by the Company from Mr. Lin pursuant to the terms and conditions of the S&P Agreement "Artwin" Artwin Ltd., a company incorporated under the laws of British Virgin Islands with limited liability, is beneficially owned by Mr. Lee "associate(s)" has the meaning ascribed to it in the Listing Rules "Board" the board of Directors "Business Day(s)" a day other than a Saturday or a Sunday or days on which a tropical cyclone warning signal No. 8 or above is hoisted or a "black" rainstorm warning signal is issued in Hong Kong at any time between 9:00 a.m. and 5:00 p.m. on which banks are open for business in Hong Kong "Casino" the casino to be operated on board the Ship at international waters "Casino Operator" Artwin, or its nominee, the intended operator of the Casino subject to entering into the relevant casino operation agreement "Company" Massive Resources International Corporation Limited, a company incorporated in Hong Kong with limited liability and the shares of which are listed on the Stock Exchange "Completion" completion of the S&P Agreement "connected person(s)" has the same meanings ascribed to it under the Listing Rules "Consideration" HK$68 million, the total consideration payable by the Company to Mr. Lin pursuant to the S&P Agreement "Consideration Shares" 1,500,000,000 Shares to be allotted by the Company at a fixed price of HK$0.032 each to Mr. Lin in satisfaction of part of the Consideration "Directors" the directors of the Company (including the independent non-executive directors of the Company) "EGM" an extraordinary general meeting of the Company to be convened to approve the Acquisition and the Memorandum in accordance with the requirements of the Listing Rules "Gallery" Gallery Land Limited, a company incorporated in the British Virgin Islands with limited liability, is beneficially owned by Mr. Chim Pui Chung and is the vendor of 1,264,220,000 Placing Shares "Golden" Golden Mount Limited, a company incorporated in the British Virgin Islands with limited liability, is beneficially owned by Mr. Chim Pui Chung and is the vendor of 552,050,000 Placing Shares "Group" the Company and its subsidiaries "Hong Kong" The Hong Kong Special Administrative Region of the PRC "Independent Third Parties" persons who, to the best of the Directors' knowledge, information and belief, having made all reasonable enquiries, are third parties independent of the Company and its connected persons "Last Trading Day" 7 January 2005, being the last trading day in the Shares on the Stock Exchange prior to the publication of this announcement "Listing Rules" The Rules Governing the Listing of Securities on the Stock Exchange "Loan Facility" a loan facility of HK$60 million to HK$100 million to be provided or procured by and at the sole discretion of the Company