09:10 KENFORD GROUP HOLDINGS LIMITED<00464> - Announcement (1) This announcement is for information purposes only, and does not constitute an invitation to acquire, purchase or subscribe for securities. The Stock Exchange of Hong Kong Limited (the "Stock Exchange") and Hong Kong Securities Clearing Company Limited ("HKSCC") take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement. Unless otherwise defined in this announcement, terms defined in the prospectus of Kenford Group Holdings Limited (the "Company") dated 12th May, 2005 (the "Prospectus") have the same meanings when used in this announcement. Kenford Group Holdings Limited (Incorporated in Cayman Islands with limited liability) ANNOUNCEMENT SUMMARY * Due to the recent volatile market sentiment and interest rate environment, the Company, the Bookrunner and the Lead Manager (on behalf of the Underwriters) have not agreed on the final Offer Price (and the Subscription Price) and have not entered into the price determination agreement at the Price Determination Time. As such, a condition to the Share Offer has not been fulfilled. Accordingly, the Share Offer announced on 12th May, 2005 will not proceed as scheduled in accordance with the Prospectus dated 12th May, 2005 and will lapse. * The Company will review the position and where applicable, a further announcement may be made in the near future for a new timetable of the share offer of the Company. * All application monies received by the Company pursuant to the Public Offer, together with related brokerage, SFC transaction levy, investor compensation levy and the Stock Exchange trading fee, will be refunded, without interest. Due to the recent volatile market sentiment and interest rate environment, the Company, the Bookrunner and the Lead Manager (on behalf of the Underwriters) have not agreed on the final Offer Price (and the Subscription Price) and have not entered into the price determination agreement at the Price Determination Time. As such, a condition to the Share Offer has not been fulfilled. Accordingly, the Share Offer announced on 12th May, 2005 will not proceed as scheduled in accordance with the Prospectus dated 12th May, 2005 and will lapse. The Company will review the position and where applicable, a further announcement may be made in the near future for a new timetable of the share offer of the Company. REFUND OF APPLICATION MONIES All application monies received by the Company pursuant to the Public Offer, together with related brokerage, SFC transaction levy, investor compensation levy and the Stock Exchange trading fee, will be refunded, without interest. If you have applied for fewer than 1,000,000 Public Offer Shares or if you have applied for 1,000,000 Public Offer Shares or more and have not indicated in your Application Form that you wish to collect refund cheque(s) in person, then your refund cheque(s) will be sent to the address on your Application Form on 23rd May, 2005 by ordinary post and at your own risk. If you have applied for 1,000,000 Public Offer Shares or more and you have indicated in your Application Form that you wish to collect refund cheque(s) in person, you may collect your refund cheque(s) from Computershare Hong Kong Investor Services Limited at Shops 1712-1716, 17th Floor, Hopewell Centre, 183 Queen's Road East, Wanchai, Hong Kong from 9:00 a.m. to 1:00 p.m. (Hong Kong time) on Monday, 23rd May 2005. Applicants, being individuals, must not authorise any other person to make collection on their behalf. You must show identification documents (which must be acceptable to Computershare Hong Kong Investor Services Limited) to collect your refund cheque(s). Applicants, being corporations, must attend by their authorised representatives each bearing a letter of authorisation from such corporation stamped with the corporation's chop. Both individuals and authorised representatives (if applicable) must produce at the time of collection evidence of identity acceptable to Computershare Hong Kong Investor Services Limited.