09:46     MIDLAND REALTY<01200>-Announcement&Resumption of Trading(11)        

    As the shareholding of the Subscriber in EVI will,                        
    as a result of the Subscription, be increased from                        
    0% to approximately 51.81%, unless the Whitewash                          
    Waiver is granted by the Executive, an obligation to                      
    make a general offer for all of the issued shares of                      
    EVI other than those already owned or agreed to be                        
    subscribed by the Subscriber and parties acting in                        
    concert with it will arise under Rule 26 of the                           
    Takeovers Code. Set out in the table below is the                         
    shareholding effect on EVI.                                               
    EVI Shares                                                                
    EVI Shares held as      held immediately                                  
    at the date of  following completion                                      
    EVI Shareholder this announcement       of the                            
    Subscription                                                              
    EVI Shares              %               EVI Shares              %         
                                                                              
    Summerview (Note 1)     2,609,200,000           65.23                     
            2,609,200,000           31.43                                     
    Mr. Pong Wai San, Wilson (Note 1)       153,610,000                       
            3.84            153,610,000             1.85                      
                                                                              
    Sub-total       2,762,810,000           69.07           2,762,810,000     
            33.28                                                             
    Mr. Cheung Shi Kwan, Wings (Note 2)     4,000,000                         
            0.10            4,000,000               0.05                      
    Other public shareholders of EVI        1,233,190,000                     
            30.83           1,233,190,000           14.86                     
    The Subscriber or its nominee   0               0.00                      
            4,300,000,000           51.81                                     
                                                                              
    Total   4,000,000,000           100.00          8,300,000,000             
            100.00                                                            
                                                                              
    Notes:                                                                    
                                                                              
    1.      2,609,200,000 EVI Shares are registered in the name               
    of and beneficially owned by Summerview and                               
    153,610,000 EVI Shares are registered in the name of                      
    Mr. Pong Wai San, Wilson, the founder, chairman and                       
    chief executive officer of EVI. The entire issued                         
    share capital of Summerview is registered in the name                     
    of and beneficially owned by Mr. Pong Wai San, Wilson.                    
                                                                              
    2.      4,000,000 EVI Shares are a registered in the name                 
    of Mr. Cheung Shi Kwan, Wings, an executive EVI                           
    Director and a person not acting in concert with                          
    Summerview and Mr. Pong Wai San, Wilson.                                  
                                                                              
    None of Summerview or any of the EVI Directors held                       
    any Midland Shares as at the date of this                                 
    announcement.                                                             
                                                                              
    The Subscriber and Summerview are presumed to be                          
    acting in concert with each other under the Takeovers                     
    Code and, upon Completion, the Subscriber and parties                     
    acting in concert with it (including Summerview) will                     
    in aggregate own 7,062,810,000 EVI Shares,                                
    representing approximately 85.09% of the enlarged                         
    issued share capital of EVI.                                              
                                                                              
    An application will be made by Midland and parties                        
    acting in concert with it to the Executive for the                        
    dispensation from compliance with Rule 26 of the                          
    Takeovers Code by Midland and parties acting in                           
    concert with it as a result of Completion. The                            
    granting of the Whitewash Waiver will be subject to                       
    the approval by the EVI Independent Shareholders (i.e.                    
    excluding those shareholders who are interested in                        
    or are involved in the Subscription Agreement - as                        
    Summerview, Mr. Pong Wai San, Wilson and their                            
    respective associates are involved in the                                 
    Subscription Agreement, they are not considered to                        
    be EVI Independent Shareholders) on votes taken by