09:31 RADFORD CAPITAL<00901> - Announcement & Resumption (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. Radford Capital Investment Limited (Incorporated in the Cayman Islands with limited liability) (Stock code: 901) TIMETABLE FOR THE CAPITAL REORGANISATION RIGHTS ISSUE ON THE BASIS OF ONE RIGHTS SHARE FOR EVERY ONE NEW SHARE HELD BY QUALIFYING SHAREHOLDERS AND RESUMPTION OF TRADING Underwriter GET NICE INVESTMENT LIMITED The Board noted the recent increase in the trading volume and decrease in the trading price of the Shares on the Last Trading Day and wishes to state that other than the Subscription and the Rights Issue, the Board is not aware of any reasons for such changes and the Board also wishes to confirm that there are no negotiations or agreements relating to intended acquisitions or realisations 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 price-sensitive nature. Reference is made to the announcement of the Company dated 16 February 2005 in relation to the Capital Reorganisation. The Board proposed to revise the terms of the Capital Reorganisation as follows: (i) every 10 Shares in the issued and unissued share capital of the Company be consolidated into one Consolidated Share; and (ii) the nominal value of every issued Consolidated Share be reduced from HK$0.2 to HK$0.02 and become a New Share and every unissued Consolidated Share will be subdivided into 10 unissued New Shares. The reduction of the nominal value of the issued Consolidated Shares will involve the cancellation of the paid-up capital of the Company to the extent of HK$0.18 per issued Consolidated Share. The Company proposes to raise approximately HK$30.3 million, before expenses, by issuing 344,422,700 Rights Shares to the Qualifying Shareholders by way of rights issue at a price of HK$0.088 per Rights Share on the basis of one Rights Share for every one New Share held on the Record Date assuming that the Capital Reorganisation has become effective on that day. The Company will provisionally allot one Rights Share for every one New Share held by the Qualifying Shareholders on the Record Date. The Rights Issue is only available to the Qualifying Shareholders. The Rights Issue is fully underwritten by the Underwriter. The Rights Issue is conditional upon, among others, the Capital Reorganisation becoming effective, the Stock Exchange agreeing to grant the listing of, and permission to deal in, the Rights Shares in their nil-paid and fully-paid forms as referred to in the paragraph headed "Conditions of the Rights Issue" below, and is further subject to the Underwriter not terminating the Underwriting Agreement as referred to in the paragraph headed "Termination of the Underwriting Agreement" below. Accordingly, the Rights Issue may or may not proceed. To qualify for the Rights Issue, a Shareholder must be registered as a member of the Company on the Record Date. Any transfer of Shares (with relevant share certificates) must be lodged for registration on or before 4:00 p.m. on 4 August 2005 with the Registrar. The register of members of the Company will be closed from 5 August 2005 to 9 August 2005, both days inclusive. No transfer of Shares will be registered during this period. New Shares will be dealt in on an ex-rights basis from 3 August 2005. Any buying or selling of the Shares from now up to the date on which all the conditions to which the Rights Issue is subject are fulfilled, and any buying or selling of nil-paid Rights Shares, are at investors' own risk. The Directors (excluding the independent non-executive Directors) believe that it is in the interest of the Company and the Shareholders to enlarge the capital base and to strengthen the financial position of the Group through the implementation of the Rights Issue. The net proceeds of the Rights Issue are estimated to be approximately HK$29 million and will be used by the Company for investment purposes pursuant to the investment objectives adopted by the Company.