09:46 CENTURY LEGEND<00079> - Announcement & Resumption (5) conducted by the Group does not comply with applicable laws in the relevant jurisdictions, the Stock Exchange may, depending on the circumstances of the case, direct the Company to take remedial action, and/or may suspend dealings in, or may cancel the listing of, the shares of the Company under Rule 6.01 of the Listing Rules. In the worst scenario that the carrying on of the Gaming Intermediary Operation by the Group is against any applicable laws, HKMJI may exercise its right of withdrawal (as discussed in the above section headed "Right of withdrawal") to exit from its investment in the Gaming Intermediary Operation. EXTRAORDINARY GENERAL MEETING China Sky, through Barsmark, is beneficially interested in approximately 52.2% of the issued share capital of the Company as at the date of this announcement and is therefore a connected person of the Company under the Listing Rules. It is beneficially owned as to one-third by each of (i) Conba Investments Limited (a company wholly and beneficially owned by Mr. Tsang Chiu Mo Samuel, an executive director of the Company); (ii) Fortune Ocean Limited (a company wholly and beneficially owned by Mr. Tsang Chiu Ching, an executive director of the Company); and (iii) Sky Shore Limited (a company wholly and beneficially owned by Ms. Tsang Chiu Yuen Sylvia, the sister of Mr. Tsang Chiu Mo Samuel and Mr. Tsang Chiu Ching). The formation of the Joint Ventures will be subject to the Independent Shareholders' approval (by way of poll) at the Extraordinary General Meeting. China Sky and his associates shall abstain from voting on the formation of the Joint Ventures. The formation of Joint Ventures also constitutes a discloseable transaction of the Company under the Listing Rules. OTHER INFORMATION Barsmark has on 6 January 2005 contacted a senior staff of Sociedade de Jogos de Macau ("SJM") by telephone to initiate discussion with SJM on a proposal by Barsmark involving sale of not less than 5% interest in the Company from Barsmark to SJM (the "Possible Disposal"). SJM is an independent third party not connected with the Company or any of its connected persons. The initial contact by Barsmark was preliminary only. Barsmark had a further contact with SJM on 20 January 2005 in relation to the Possible Disposal. However, up to the date of this announcement, no agreement has been reached on the Possible Disposal. There is no assurance that the Possible Disposal will be materialized. Shareholders of the Company are therefore advised to exercise extreme caution in dealing in the shares of the Company. The Company will inform the public of any material development on this matter (if any) as and when appropriate. The Board has noted the increases in the price and trading volume of the shares of the Company on 6 January 2005 and wish to state that the Board is not aware of any reasons for such increases. Save for those mentioned in this announcement, the Board confirms that there are no negotiations or agreements relating to intended acquisitions or realizations which are discloseable under Rule 13.23 of the Listing Rules, neither is the Board aware of any matter discloseable under the general obligation imposed by Rule 13.09 of the Listing Rules, which is or may be of a price-sensitive nature. GENERAL The Group is principally engaged in travel and gaming related business including investment in gaming intermediary operations in Macau and on the Omar III cruiser, and provision of health and beauty services and involved in money lending. A circular containing, among others, further details of the Joint Ventures, a letter from the independent financial adviser containing its advice to the Independent Board Committee and the Independent Shareholders, and a notice of the Extraordinary General Meeting will be despatched to the shareholders of the Company as soon as practicable in accordance with the Listing Rules. Trading in the shares of the Company was suspended from 3:10 p.m. on 6 January 2005 pending the release of this announcement. Application has been made by the Company for the resumption of trading of the shares of the Company on the Stock Exchange with effect from 26 January 2005. TERMS USED IN THIS ANNOUNCEMENT "associates" has the meaning ascribed to it under the Listing Rules "Barsmark" Barsmark Investments Limited, a company incorporated in British Virgin Islands and is wholly and beneficially owned by China Sky