08:54 B.A.L. HOLD<08079> - Yearly Results Announcement (2) The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income and expense that are taxable or deductible in other years, and it further excludes income statement items that are never taxable or deductible. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset realized. Deferred tax is charged or credited in the income statement, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. 5. Earnings / (Loss) per share (a) Basic The calculation of basic earnings per share is based on the profit attributable to shareholders of approximately HK$13,961,000 (2003 : HK$14,504,000(restated)) and the weighted average number of 2,460,524,274 (2003 : 2,389,588,034) ordinary shares in issue during the year. (b) Diluted The calculation of diluted earnings per share is based on the profit attributable to shareholders of approximately HK$13,961,000 (2003 : HK$14,504,000(restated)) and the weighted average number of 2,460,524,274 (2003 : 2,389,588,034) ordinary shares in issue during the year plus the weighted average number of 2,251,577 (2003 : 12,250,000) ordinary shares assumed to have been issued at nil consideration on the deemed exercise of all share options outstanding during the year. The Stock Exchange of Hong Kong Limited (the "Stock Exchange") 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. Codebank Limited (incorporated in Hong Kong with limited liability) Cancellation of the listing of the Company's securities The Stock Exchange of Hong Kong notified the Company that on the expiry of the 6-month period specified for the Company to take remedial action (i.e. by 27th November 2004), the Company has not submitted a valid resumption proposal. The Stock Exchange of Hong Kong also notified the Company that the Growth Enterprise Market Listing Committee , as its meeting held on 13th January 2005, approved the cancellation of the listing of the Company with immediate effect in accordance with Rule 9.14 of the GEM Listing Rules. The Company received a notice on 14th January 2005 from the Stock Exchange of Hong Kong pursuant to Rule 9.16 of the Growth Enterprise Market Listing Rules that the last day of the listing of the Company's securities will be on Wednesday, 26 January 2005 and the listing of the Company's securities will be cancelled with effect from 9:30 a.m. on Thursday, 27 January 2005. Shareholders of the Company who have any queries about the implications of the delisting should seek professional advice. By order of the Board Codebank Limited Kwok Chong Anthony Director Hong Kong, Jan 26, 2005 This announcement, for which the Directors collectively and individually accept full responsibility, includes particulars given in compliance with the Rules Governing the Listing of Securities on the Growth Enterprise Market ("GEM") of The Stock Exchange of Hong Kong Limited for the purpose of giving information with regard to Codebank Limited. 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 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. This announcement will remain on the "Latest Company Announcements" page on the GEM website for at least seven days from its date of publication.