10:07 SANDMARTIN INTERNATIONAL HOLDINGS LIMITED<00482> - Ann. (2) SUMMARY . The Offer Price has been determined at HK$1.08 per Offer Share (excluding brokerage of 1%, SFC transaction levy of 0.005%, investor compensation levy imposed by the SFC of 0.002% and Stock Exchange trading fee of 0.005% payable thereon). . A total of 683 valid applications have been received pursuant to the Public Offer on WHITE, YELLOW and PINK application forms for a total of 46,598,000 Public Offer Shares, equivalent to approximately 3.7 times of the total number of 12,500,000 Shares initially and finally available for subscription under the Public Offer. Among these applications, one valid application pursuant to the Public Offer on PINK application forms for a total of 4,000 Public Offer Shares has been received, equivalent to approximately 0.3% of the maximum number of 1,250,000 Public Offer Shares available for subscription by eligible full-time employees of the Group on a preferential basis (the ``Employee Shares''). . The Placing Shares were over-subscribed, equivalent to approximately 1.2 times of the total number of 112,500,000 Shares initially and finally available for subscription and purchase under the Placing. Apart from the 112,500,000 Shares subscribed for or purchased under the Placing, the Lead Manager (on behalf of the Underwriters) has over-allocated an aggregate of 15,000,000 Shares under the Placing. The settlement of such over-allocations will be effected by the stock borrowing arrangement pursuant to the Stock Borrowing Agreement. . In connection with the Placing, the Company has granted to the Placing Underwriters the Over-allotment Option exercisable by the Lead Manager at any time within 30 days after the date of the last day for lodging applications under the Public Offer, subject to the terms of the Underwriting Agreements, to require the Company to allot and issue, at the final Offer Price of HK$1.08, up to additional 18,750,000 New Shares, representing 15% of the number of the Offer Shares initially being offered under the Share Offer, to cover over-allocations in the Placing or to satisfy the obligations of the Lead Manager to return the Shares borrowed under the Stock Borrowing Agreement. Since the Lead Manager has over-allocated 15,000,000 Shares under the Placing, pursuant to the Over-allotment Option, the Company may only issue up to a maximum of 15,000,000 New Shares, representing 12% of the number of Offer Shares initially being offered under the Share Offer. As at the date of this announcement, the Lead Manager has not exercised the Over-allotment Option. In the event that the Over-allotment Option is exercised, the Company will issue a separate announcement. . Share certificates for the Public Offer Shares allotted to wholly or partially successful applicants using WHITE and PINK application forms which are either not available for personal collection, or which are so available but are not collected in person, will be despatched by ordinary post to those entitled at their own risk on Wednesday, 11 May 2005. . Share certificates for the Public Offer Shares allotted to wholly or partially successful applicants using YELLOW application forms will be issued in the name of HKSCC Nominees Limited and are expected to be deposited into CCASS for credit to their CCASS Investor Participants' stock accounts or their designated CCASS Participants' stock accounts at the close of business on Wednesday, 11 May 2005, or under contingent situations, on such other date as shall be determined by HKSCC or HKSCC Nominees Limited. . Refund cheques for wholly or partially unsuccessful applicants using WHITE, YELLOW and PINK application forms which are either not available for personal collection or which are so available but are not collected in person will be despatched by ordinary post to the addresses of the applicants specified in the relevant application forms at their own risk on Wednesday, 11 May 2005. . Dealings in the Shares on the Main Board are expected to commence at 9:30 a.m. (Hong Kong time) on Thursday, 12 May 2005. OFFER PRICE The Offer Price has been determined at HK$1.08 per Offer Share (excluding brokerage of 1%, SFC transaction levy of 0.005%, investor compensation levy imposed by the SFC of 0.002% and Stock Exchange trading fee of 0.005% payable thereon). At the Offer Price of HK$1.08 per Offer Share, the net proceeds from the Share Offer (after deduction of underwriting commission and estimated related expenses payable by the Company in relation to the Share Offer, not taking into account any proceeds from the placing of the Sale Shares and assuming that the Over-allotment Option is not exercised) are estimated to be approximately HK$71 million. APPLICATIONS RECEIVED AND ALLOCATION OF Public Offer Shares