09:54 WING ON TRAVEL<01189>-Announcement&Resumption of Trading (6) Subject to the Share Consolidation becoming effective, shareholders may, during business hours from 15 March 2005 to 28 April 2005 (both dates inclusive), submit their certificates for the Shares to the Company's branch registrar in Hong Kong, Secretaries Limited, at G/F, Bank of East Asia Harbour View Centre, 56 Gloucester Road, Wanchai, Hong Kong, in exchange for certificates for the Consolidated Shares (on the basis of every one hundred (100) Shares for one (1) Consolidated Share) free of charge. Thereafter, existing share certificates for Shares will be accepted for exchange only on payment of a fee of HK$2.50 (or such higher amount as may from time to time be specified by the Stock Exchange) for each new certificate issued for the Consolidated Shares or each old share certificate submitted. Dealings in the Shares represented by existing certificates in board lots of 10,000 Shares will cease after 9:30 a.m. on 15 March 2005. Existing share certificates will only be valid for delivery and settlement in respect of dealings for the period up to 22 April 2005 and thereafter will not be acceptable for dealing purposes. However, existing certificates for Shares in board lots of 10,000 Shares will continue to be evidence of title to the shares held in Wing On Travel on the basis of one hundred (100) Shares for one (1) Consolidated Share. ADJUSTMENTS IN RELATION TO THE CONVERTIBLE NOTES The Share Consolidation may lead to adjustment(s) to the conversion price and/or the number of Consolidated Shares to be issued upon exercise of the Convertible Notes in accordance with their respective terms. Wing On Travel will consult an independent merchant bank in compliance with the terms of the Convertible Notes for the required adjustments and further announcement of the required adjustments (if any) will be made as soon as practicable. APPLICATION FOR LISTING Wing On Travel will apply to the Listing Committee of the Stock Exchange for the listing of, and permission to deal in, the Consolidated Shares in issue and the Consolidated Shares falling to be issued upon exercise of the conversion rights attaching to the Convertible Notes. UNUSUAL MOVEMENTS IN THE TRADING VOLUME OF THE SHARES OF WING ON TRAVEL The directors of Wing On Travel have noted the increase in the trading volume of the Shares on the Last Dealing Date and wish to state that they are not aware of any reasons for such unusual movements. Save for the transactions disclosed in this Announcement, the Kingsway Transaction Announcement and several investment proposals referred to in the announcement of Wing On Travel dated 6 January 2005, the directors of Wing On Travel confirm that there are no negotiations or agreements relating to the intended acquisitions or realisations which are discloseable under Rule 13.23 of the Listing Rules, neither is the board of directors of Wing On Travel 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. The above statement is made by the order of the board of directors of Wing On Travel, the directors of Wing On Travel individually and jointly accept responsibility for the accuracy of the foregoing statement. GENERAL Approval from the shareholders of Wing On Travel will be required for the Share Consolidation. A circular containing, among other things, details of the Share Consolidation and the notice of SGM will be despatched to the shareholders as soon as practicable. Trading of the shares of Wing On Travel on the Stock Exchange were suspended at 9:30 a.m. on 2 February 2005. Application has been made to the Stock Exchange for the resumption of trading of the shares of Wing On Travel, with effect from 9:30 a.m. on 7 February 2005. As at the date of this Announcement, the directors of Wing On Travel are as follows:- Executive Directors:- Non-Executive Director:- Mr. Yu Kam Kee, Lawrence M.B.E., J.P. (Chairman) Mr. Chan Yeuk Wai (Honorary Chairman) Mr. Cheung Hon Kit (Managing Director) Dr. Yap, Allan Independent Non-Executive Directors:- Mr. Chan Pak Cheung, Natalis Mr. Kwok Ka Lap, Alva Mr. Lui Siu Tsuen, Richard Mr. Sin Chi Fai Ms. Luk Yee Lin, Ellen Mr. Wong King Lam, Joseph DEFINITIONS