09:50 STELUX HOLDINGS<00084> - Announcement (1) The Stock Exchange of Hong Kong Limited 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. STELUX Holdings International Limited http://www.irasia.com/listco/hk/stelux (Incorporated in Bermuda with limited liability) Stock Code: 84 REVISED ANNUAL CAPS IN RELATION TO CONTINUING CONNECTED TRANSACTIONS FOR PURCHASES OF OPTICAL PRODUCTS SUMMARY The Group has in the past purchased several brands of optical products on a continuing basis from Vision Pro Group and Thong Sia Companies, and will continue to make purchases of optical products from Vision Pro Group and Thong Sia Companies in the ordinary course of its business, Vision Pro Group and Thong Sia Companies being connected persons of the Company (referred to below as the "Continuing Connected Transactions"). Sales of optical products in the past few months have exceeded the Company's original expectation since the Continuing Connected Transactions were announced on 12 June 2004 and the value of the Continuing Connected Transactions for the Group for the period from 1 April 2004 up to and including 31 December 2004 was approximately HK$2,848,000. Accordingly, the Company expects that the Caps for each of the three financial years ended 31 March 2007 will likely be exceeded. As such, the Company proposes to revise the Caps as set out below. It is expected that each of the applicable percentage ratios as defined in Rule 14A.10 of the Listing Rules calculated with reference to the annual consideration to be payable by the Group for the Continuing Connected Transactions for each of the three financial years ended 31 March 2007, will exceed 0.1% but be less than 2.5%. As such, the Continuing Connected Transactions will remain to be classified as continuing connected transactions exempt from the independent shareholders' approval requirements under Rule 14A.34 of the Listing Rules but will be subject to the annual review and reporting requirement under Chapter 14A of the Listing Rules. BACKGROUND The Group is principally engaged in the business of retailing and trading of watches, optical products, children's wear and property investment. The Group has in the past purchased several brands of optical products on a continuing basis from Vision Pro Group and Thong Sia Companies and will continue to make purchases of optical products from Vision Pro Group and Thong Sia Companies in the ordinary course of its business, Vision Pro Group and Thong Sia Companies being connected persons of the Company. The Group entered into written agreements on 1 April The Stock Exchange of Hong Kong Limited received notifications regarding the daily trading summary of derivative warrants as follows:- Trade Date - 15022005 Average Percent Number (HK$) per of Issue of Warrant Number of Still Stock Stock Warrants Bought Warrants Still out in Short Name Code Bought/(Sold) /(Sold) out in Market Market --------------- ---- ------------- --------- -------------- -------- KC-HSBC@EC0506B 4575 (860,000) (0.2956) 204,876,000 71.14% KC-HSBC@EC0506B 4575 4,584,000 0.2967 204,876,000 71.14% KC-BOCHK@EC0507 4578 (5,630,000) (0.0957) 107,115,000 27.61% KC-BOCHK@EC0507 4578 5,560,000 0.0969 107,115,000 27.61% KC-PETCH@EC0506 4579 (16,000) (0.5200) 462,000 0.16% KC-PETCH@EC0506 4579 0 0.0000 462,000 0.16% KC-HSI @EC0504B 4618 0 0.0000 170,000 0.04% KC-HSI @EC0504B 4618 0 0.0000 170,000 0.04% KC-HSCEI@EC0504 4628 0 0.0000 0 0.00% KC-HSCEI@EC0504 4628 0 0.0000 0 0.00% KC-C MOB@EP0506 4629 0 0.0000 200,000 0.07% KC-C MOB@EP0506 4629 0 0.0000 200,000 0.07% KC-HSI @EP0504D 4630 0 0.0000 0 0.00% KC-HSI @EP0504D 4630 0 0.0000 0 0.00% KC-SHK P@EC0507 4631 (1,130,000) (0.5176) 1,170,000 0.91% KC-SHK P@EC0507 4631 900,000 0.5244 1,170,000 0.91% KCHSCEI@EP0504B 4632 0 0.0000 50,000 0.01% KCHSCEI@EP0504B 4632 0 0.0000 50,000 0.01% KC-HSBC @EC0507 4642 0 0.0000 124,000 0.10% KC-HSBC @EC0507 4642 20,000 0.9800 124,000 0.10% KC-CK(H)@EC0505 4649 0 0.0000 0 0.00% KC-CK(H)@EC0505 4649 0 0.0000 0 0.00% KC-HSBC @EC0602 4652 (64,000) (0.8100) 3,428,000 2.68% KC-HSBC @EC0602 4652 0 0.0000 3,428,000 2.68% KC-PETCH@EC0601 4663 0 0.0000 20,000 0.01% KC-PETCH@EC0601 4663 0 0.0000 20,000 0.01% KC-CLIFE@EC0507 4681 (28,678,000) (0.4055) 28,897,000 26.76% KC-CLIFE@EC0507 4681 14,674,000 0.4057 28,897,000 26.76% KC-HSBC@EC0506C 4682 (2,448,000) (0.1571) 238,884,000 55.81% KC-HSBC@EC0506C 4682 2,108,000 0.1554 238,884,000 55.81% KC-HSBC@EC0506D 4683 (1,680,000) (0.0890) 302,404,000 67.50% KC-HSBC@EC0506D 4683 944,000 0.0800 302,404,000 67.50% KC-PETCH@EC0509 4684 0 0.0000 0 0.00% KC-PETCH@EC0509 4684 0 0.0000 0 0.00% KC-HSCEI@EC0608 9007 0 0.0000 340,000 0.20% KC-HSCEI@EC0608 9007 0 0.0000 340,000 0.20% KC-HSBC @XC0504 9009 0 0.0000 588,000 0.67% KC-HSBC @XC0504 9009 0 0.0000 588,000 0.67% KC-PCCWL@XC0504 9010 0 0.0000 798,000 0.80% KC-PCCWL@XC0504 9010 50,000 0.7400 798,000 0.80% KC-HSBC @EC0606 9033 (100,000) (0.2450) 35,456,000 8.86% KC-HSBC @EC0606 9033 200,000 0.2393 35,456,000 8.86% KC-BOCHK@XC0504 9042 0 0.0000 75,000 0.08% KC-BOCHK@XC0504 9042 0 0.0000 75,000 0.08% KC-CK(H)@XC0504 9078 0 0.0000 1,250,000 1.16% KC-CK(H)@XC0504 9078 30,000 0.5700 1,250,000 1.16% KC-C TEL@XC0504 9079 0 0.0000 204,000 0.19% KC-C TEL@XC0504 9079 0 0.0000 204,000 0.19% KC-HUA P@XC0504 9080 0 0.0000 6,020,000 3.20% KC-HUA P@XC0504 9080 0 0.0000 6,020,000 3.20% KC-HWL @XC0504 9081 0 0.0000 25,490,000 16.13% KC-HWL @XC0504 9081 400,000 0.3850 25,490,000 16.13% KC-HSI @XC0503 9096 0 0.0000 1,250,000 0.31% KC-HSI @XC0503 9096 0 0.0000 1,250,000 0.31% KCCK(H)@XC0504B 9097 0 0.0000 10,000 0.01% KCCK(H)@XC0504B 9097 0 0.0000 10,000 0.01% KC-SHK P@XC0504 9098 0 0.0000 50,000 0.04% KC-SHK P@XC0504 9098 0 0.0000 50,000 0.04% KCCK(H)@XC0504C 9102 0 0.0000 7,040,000 6.52% KCCK(H)@XC0504C 9102 0 0.0000 7,040,000 6.52% KC-HWL @XC0504B 9103 0 0.0000 65,460,000 8.99% KC-HWL @XC0504B 9103 90,000 0.1886 65,460,000 8.99% KC-C MOB@XC0504 9110 0 0.0000 100,065,000 9.20% KC-C MOB@XC0504 9110 2,560,000 0.0680 100,065,000 9.20% KC-HSI @XC0503B 9111 0 0.0000 14,950,000 3.74% KC-HSI @XC0503B 9111 270,000 0.3554 14,950,000 3.74% KCBOCHK@XC0504B 9121 0 0.0000 52,000 0.06% KCBOCHK@XC0504B 9121 0 0.0000 52,000 0.06% KC-PETCH@XC0504 9125 0 0.0000 438,000 0.16% KC-PETCH@XC0504 9125 0 0.0000 438,000 0.16%