09:44 TAKSON HOLDINGS<00918> - Announcement (1) The Stock Exchange of Hong Kong Limited takes no responsibility for the contents of this announcement, makes no representation as to its accuracy or completeness and expressly disclaims any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement. TAKSON HOLDINGS LIMITED (Incorporated in Bermuda with limited liability) (Stock Code: 918) RESULTS OF RIGHTS ISSUE ON THE BASIS OF ONE RIGHTS SHARE FOR EVERY FIVE EXISTING SHARES HELD BY QUALIFYING SHAREHOLDERS Financial Adviser Centurion Corporate Finance Limited The Directors are pleased to announce that the Rights Issue has become unconditional at 4:00 p.m. on Tuesday, 17 May 2005 and the subscription results of the 77,900,000 Rights Shares under the Rights Issue. The Company has received valid acceptances for a total of 70,274,842 Rights Shares provisionally allotted under the Rights Issue and valid applications for a total of 261,978,066 excess Rights Shares. Accordingly, the Rights Issue was approximately 426.5% subscribed, of which approximately 21.2% were subscribed under the provisional allotments of Rights Shares and approximately 78.8% were subscribed under the excess applications for the Rights Shares. Share certificates in respect of the fully-paid Rights Shares and refund cheques in respect of wholly or partly unsuccessful applications for excess Rights Shares will be despatched by ordinary post to those entitled thereto at their own risk by the Registrar on or before Tuesday, 24 May 2005. Reference is made to the prospectus in relation to the Rights Issue (the "Prospectus") issued by the Company on 26 April 2005. Capitalised terms used herein shall have the same meanings as defined in the Prospectus unless otherwise stated. RESULTS OF THE RIGHTS ISSUE The Directors are pleased to announce that the Rights Issue has become unconditional at 4:00 p.m. on Tuesday, 17 May 2005. 128 valid acceptances of Rights Shares provisionally allotted under the Rights Issue have been received for a total of 70,274,842 Rights Shares (representing approximately 90.2% of the total number of Rights Shares under the Rights Issue) and 301 valid applications for excess Rights Shares have been received for a total of 261,978,066 Rights Shares (representing approximately 336.3% of the total number of Rights Shares under the Rights Issue). Based on the subscription results of the Rights Issue set out above, the Rights Issue was approximately 426.5% subscribed, of which approximately 21.2% was subscribed under the provisional allotments of Rights Shares and approximately 78.8% was subscribed under the excess applications for the Rights Shares. As the Rights Issue is over-subscribed, the Underwriter has not been called upon to subscribe for any Rights Shares pursuant to the Underwriting Agreement. EXCESS APPLICATION The Directors have resolved to allot the 7,625,158 Rights Shares available for the excess applications in the following manner: Approximately percentage of allocation based on Total the total number Number of excess Number of number of of excess Rights Rights Shares valid excess Rights Shares Shares applied for applied for applications allotted in this category Basis of allotment 1 - 1,999 31 55,599 100.00% 100.00% 2,000 - 249,999 192 930,795 8.10% odd lot in full plus 3.00% of the remaining excess Rights Shares applied for (rounded