10:19 KENFORD GROUP HOLDINGS LIMITED<00464> - Announcement (2) Multiple or suspected multiple applications and any application on a WHITE or YELLOW Application Form for more than the total number of the Public Offer Shares (with Warrants) initially made available for subscription (that is, 10,000,000 Public Offer Shares) under the Public Offer will be rejected and only one application on a WHITE or YELLOW Application Form may be made for the benefit of any person. In addition, applicants are required to undertake and confirm that they or the relevant beneficial owner(s) have not indicated and will not indicate an interest for, and have not received or been placed or allotted (including conditionally and/or provisionally) with, the Placing Shares (with Warrants). Applications where cheques or banker's cashier orders are dishonoured upon first presentation are liable to be rejected. The Share Offer is conditional upon fulfillment of the conditions as stated in the paragraph headed "Conditions of the Share Offer" under the section headed ''Structure of the Share Offer'' in the Prospectus. If the conditions are not fulfilled on or before the 30th day from the date of the Prospectus, the Share Offer will thereby lapse and all application monies received from applicants under the Public Offer will be refunded, without interest, on the terms set out under the heading ''Refund of your application money'' on the Application Forms and the section headed ''How to apply for the Public Offer Shares (with Warrants)'' in the Prospectus. The Offer Price will not be more than HK$0.85 per Offer Share (with Warrants) and is currently expected to be not less than HK$0.65 per Offer Share (with Warrants) and the Subscription Price will not be more than HK$0.91 per Share and expected to be not less than HK$0.65 per Share. The Offer Price and the Subscription Price are expected to be determined by agreement between the Bookrunner and the Lead Manager (on behalf of the Underwriters) and the Company at the Price Determination Time, which is currently scheduled to occur at or before 5:00 p.m. on 19th May, 2005. If, for any reason, the Offer Price and the Subscription Price are not agreed between the Bookrunner and the Lead Manager (on behalf of the Underwriters) and the Company at the Price Determination Time, the Share Offer will not become unconditional and will lapse immediately. In such a case, the Company will make an announcement as soon as practicable. Applicants under the Public Offer should note that save under the circumstances as set out in the paragraph headed "Circumstances in which you will not be allotted Public Offer Shares (with Warrants)" under the section headed "How to apply for the Public Offer Shares (with Warrants)" in the Prospectus, applications for the Public Offer Shares cannot be withdrawn once submitted. Applicants for the Public Offer Shares must pay the maximum Offer Price of HK$0.85 per Offer Share (with Warrants) together with 1% brokerage, 0.005% Stock Exchange trading fee, 0.005% SFC transaction levy and 0.002% SFC investor compensation levy. The Offer Price range and the Subscription Price range set out above are indicative only, which may be reduced below that stated above at any time not later than the morning of the day which is the last day for lodging applications under the Public Offer (i.e. 18th May, 2005). In such a case, the Company will, as soon as practicable following the decision to make such reduction, and in any event no later than the morning of the day which is the last day for lodging applications under the Public Offer cause to be published in The Standard in English and the Hong Kong Economic Times in Chinese of notice of such a change. Applicants under the Public Offer should also note that, even if the indicative Offer Price and the Subscription Price are so reduced, in no circumstances can applications be withdrawn once submitted. You may not revoke your application before the expiration of the fifth day after the time of the opening of the application lists (excluding any day which is a Saturday, Sunday or public holiday in Hong Kong) unless a person responsible for the Prospectus under section 40 of the Companies Ordinance gives a public notice under that section which excludes or limits the responsibility of that person for the Prospectus. Applicants who would like to be allotted Public Offer Shares (with Warrants) in their own names should complete and sign the WHITE Application Forms. Applicants who would like to have the allotted Public Offer Shares (with Warrants) issued in the name of HKSCC Nominees Limited and deposited directly into CCASS for the credit of their CCASS Investor Participant stock accounts or the stock accounts of their designated CCASS Participants should complete and sign the YELLOW Application Forms, copies of which, together with copies of the Prospectus, may be obtained during normal business hours from 9:00 a.m. on Thursday, 12th May, 2005 until 12:00 noon on Wednesday, 18th May, 2005 at the Depository Counter of HKSCC at 2nd Floor, Vicwood Plaza, 199 Des Voeux Road Central, Hong Kong or the Customer Service Centre of HKSCC at Upper Ground Floor, V-Heun Building, 128-140 Queen's Road Central, Hong Kong. Share certificates and Warrant certificates will only become valid certificates of title provided that (i) the Share Offer has become