11:18     START TECH<00706> - Announcement & Resumption of Trading (6)        

    Consideration (being approximately HK$31,887,000)                         
    and the unaudited net asset value of the Plastics                         
    Companies attributable to the Group (being                                
    approximately HK$42,258,000) as at 31 December 2004.                      
                                                                              
    The Company intended to use the net proceeds from the                     
    Disposal as the general working capital of the Group.                     
                                                                              
    VERY SUBSTANTIAL DISPOSAL                                                 
    The Disposal constitutes a very substantial disposal                      
    for the Company and is subject to approval by                             
    shareholders of the Company pursuant to Rule 14.49                        
    of the Listing Rules. A circular containing further                       
    details of the Disposal and the notice of SGM will                        
    be despatched to the shareholders of the Company as                       
    soon as practicable. The Company has confirmed with                       
    Smart Eastern that none of Smart Eastern nor any of                       
    its associates is holding any shares in the Company.                      
    As such, no shareholder of the Company is required                        
    to abstain from voting at the EGM.                                        
                                                                              
    GENERAL                                                                   
                                                                              
    At the request of the Company, trading in the shares                      
    of the Company on the Stock Exchange was suspended                        
    from 9:30 a.m. on 3 May 2005 pending the release of                       
    this announcement. An application has been made by                        
    the Company to the Stock Exchange for the resumption                      
    of trading in the shares of the Company on the Stock                      
    Exchange with effect from 9:30 a.m. on 13 May 2005.                       
                                                                              
                                                                              
    DEFINITIONS                                                               
    In this announcement, the following expressions shall,                    
    unless the context requires otherwise, have the                           
    following meanings:                                                       
                                                                              
    "Batco" Batco Limited, the shareholder holding 35%                        
    interests in Fuqing Plastics, the shareholder holding                     
    8.75% interests in Fuzhou Plastics, and the                               
    shareholder holding 8.75% interests in Wuhan Plastics.                    
    Save for its interests in the Plastics Companies,                         
    Batco is a third party independent of the Group and                       
    connected persons (within the meaning of the Listing                      
    Rules) of the Group                                                       
                                                                              
    "BVI"   the British Virgin Islands                                        
                                                                              
    "Chatex"        Chatex Investment Limited, a limited company              
    incorporated in the British Virgin Islands and a                          
    wholly-owned subsidiary of the Company                                    
                                                                              
    "Company"       Start Technology Company Limited, a                       
    company incorporated in Bermuda with limited                              
    liability, the shares of which are listed on the Main                     
    Board of the Stock Exchange                                               
                                                                              
    "Consideration" the consideration payable by Smart                        
    Eastern to the Company for the Disposal in accordance                     
    with the Equity Transfer Agreement                                        
                                                                              
    "Directors"     the directors of the Company                              
                                                                              
    "Disposal"      the disposal of Group's entire interests                  
    in the Plastics Companies and Chatex pursuant to the                      
    Equity Transfer Agreement                                                 
                                                                              
    "Equity Transfer Agreement"     the equity transfer                       
    agreement entered into between the Company and Smart                      
    Eastern on 2 May 2005 in relation to the Disposal