10:29     ZIDA TECH<00859> - Announcement & Resumption (5)                    

    As at the date of this announcement, the Company has 204,145,000          
    Shares in issue and 10,885,000 Options outstanding entitling              
    the Optionholders to subscribe for an aggregate of 10,885,000             
    Shares. The 10,885,000 outstanding Options comprise 675,000               
    Tranche A Options, 600,000 Tranche B Options, 210,000 Tranche             
    C Options and 9,400,000 Tranche D Options entitling their holders         
    to subscribe for new Shares at subscription prices of HK$0.568,           
    HK$0.77, HK$0.24 and HK$0.26 per Share respectively.                      
                                                                              
    Each of Mr. Chang and Ms. Tang is interested in 4,700,000 Tranche         
    D Options as at the date of this announcement. However, each              
    of Mr. Chang and Ms. Tang has undertaken to the Offeror not to            
    exercise their Tranche D Options during the offer period and              
    not to accept the Option Offer. Other than Mr. Chang and Ms.              
    Tang, the other Optionholders have not given any undertaking              
    to accept or not to accept the Option Offer.                              
                                                                              
    Save for the outstanding Options disclosed above, there are no            
    outstanding warrants, options or securities convertible into              
    Shares as at the date of this announcement.                               
                                                                              
    Comparisons of value                                                      
                                                                              
    The offer price of HK$0.42 per Share is equal to the consideration        
    paid by the Offeror for each Sale Share and represents:                   
                                                                              
    (a)     a premium of approximately 18.3% over the closing price of        
    HK$0.355 per Share as quoted on the Stock Exchange on 23 March            
    2005, being the last trading day prior to the suspension of               
    trading of the Shares on 24 March 2005;                                   
                                                                              
    (b)     a premium of approximately 39.5% over the average closing         
    price of HK$0.301 per Share over the 10 trading days up to and            
    including 23 March 2005;                                                  
                                                                              
    (c)     a premium of approximately 48.9% over the average closing         
    price of HK$0.282 per Share over the 30 trading days up to and            
    including 23 March 2005; and                                              
                                                                              
    (d)     a premium of approximately 394.1% over the unaudited              
    consolidated net tangible asset value per Share of approximately          
    HK$0.085 as at 30 September 2004 (based on the unaudited                  
    consolidated net tangible assets of the Company of approximately          
    HK$17,454,000 and 204,145,000 Shares in issue as stated in the            
    last published interim report of the Company for the six months           
    ended 30 September 2004).                                                 
                                                                              
    Highest and lowest Share prices                                           
                                                                              
    The highest and lowest closing prices of the Shares as quoted             
    on the Stock Exchange during the six-month period preceding the           
    last trading day prior to the date of this announcement were              
    HK$0.355 per Share on 23 March 2005 and HK$0.102 per Share on             
    19 and 22 November 2004 respectively.                                     
                                                                              
    Total consideration                                                       
                                                                              
    As at the date of this announcement, there are 204,145,000 Shares         
    in issue and 10,885,000 outstanding Options. At the offer price           
    of HK$0.42 per Share, the entire issued share capital of the              
    Company was valued at approximately HK$85.7 million (assuming             
    the Options have not been exercised prior to the close of the             
    Offers) or approximately HK$86.4 million (assuming the Options,           
    other than those held by Mr. Chang and Ms. Tang, have been fully          
    exercised).