10:14 <01168> & <00622> - Joint Announcement & Resumption (9) "HK$" Hong Kong dollars, the lawful currency of Hong Kong "Hong Kong" the Hong Kong Special Administrative Region of the PRC "Issue Price" HK$0.69, the issue price of each Consideration Share which is equivalent to the closing price of the Enerchina Shares as stated in the Stock Exchange's quotation sheet on the Valuation Date "Kenson" Kenson Investment Limited, a company incorporated in the British Virgin Islands and a wholly-owned subsidiary of Sinolink "Kenson Note" the HK$62,500,000 exchangeable redeemable note issued by Kenson to Hutchison International Limited (a wholly-owned subsidiary of Hutchison Whampoa Limited) on 1 November 2004 which is exchangeable into PG Shares at the exercise price of HK$3.25 per PG Share (subject to adjustments) "Listing Rules" the Rules Governing the Listing of Securities on the Stock Exchange "Maximum Exposure" an amount which is calculated as the higher of: (a) the maximum debt liability of Kenson under the Kenson Note as at the Completion Date; or (b) the market value of the maximum number of PG Shares into which the Kenson Note can be exchanged in lieu of the repayment by Kenson of its debt liability under the Kenson Note calculated based on the closing price of the PG Shares as stated in the Stock Exchange's quotation sheet on the Valuation Date "Panva Gas" Panva Gas Holdings Limited (Stock Code: 8132), a company incorporated in the Cayman Islands whose shares are listed on GEM of the Stock Exchange "PG Share(s)" ordinary share(s) of HK$0.10 each in the capital of Panva Gas listed and traded on GEM of the Stock Exchange "PRC" the People's Republic of China "Public Float" the requirement for at least 25% of the total issued share capital of Enerchina to be held at all times by the public "Sale Shares" the entire issued share capital of Kenson and the entire issued share capital of Supreme All as at the Completion Date "SFC" the Securities and Futures Commission of Hong Kong "Sinolink" Sinolink Worldwide Holdings Limited (Stock Code: 1168), a company incorporated in Bermuda whose shares are listed on the Main Board of the Stock Exchange "Sinolink Shareholders" the shareholders of Sinolink "Smart Orient" Smart Orient Investments Limited, a company incorporated in the British Virgin Islands and a wholly-owned subsidiary of Sinolink "Stock Exchange" The Stock Exchange of Hong Kong Limited "Supreme All" Supreme All Investments Limited, a company incorporated in the British Virgin Islands and a wholly-owned subsidiary of Sinolink "Valuation Date" 1 April 2005, being the last trading day of the PG Shares and the Enerchina Shares prior to the date of the Acquisition Agreement By order of the board of By order of the board of By order of the board of SINOLINK WORLDWIDE HOLDINGS LIMITED PANVA GAS HOLDINGS LIMITED ENERCHINA HOLDINGS LIMITED OU Yaping CHEN Wei SUN Qiang Chang Chairman Managing Director Chairman 7 April 2005, Hong Kong As at the date of this announcement, the boards of directors of Sinolink, Enerchina and Panva Gas respectively comprise of: SINOLINK WORLDWIDE PANVA GAS ENERCHINA HOLDINGS LIMITED HOLDINGS LIMITED HOLDINGS LIMITED Executive Directors: Executive Directors: Executive Directors: OU Yaping (Chairman) OU Yaping (Chairman) SUN Qiang Chang