09:53     ZIDA TECH<00859> - Announcement (3)                                 

    2005 and the Offers were closed on 20 May 2005.                           
                                                                              
    As at 4:00 p.m. on 20 May 2005, valid acceptances in respect              
    of (i) a total of 4,702,000 Shares under the Share Offer,                 
    representing approximately 2.3% of the existing issued share              
    capital of the Company and of the voting rights which may be              
    exercised at general meetings of the Company, and (ii) a total            
    of 1,485,000 Options under the Option Offer, representing                 
    approximately 13.6% of the outstanding Options, have been                 
    received by the Offeror. As Mr. Chang and Ms. Tang had undertaken         
    to the Offeror not to exercise in aggregate the remaining                 
    9,400,000 Options (representing approximately 86.4% of the                
    outstanding Options) held by them during the offer period and             
    not to accept the Option Offer, such Options lapsed after 13              
    May 2005 in accordance with the terms of the share option scheme          
    of the Company adopted on 29 April 2000 (which was subsequently           
    terminated on 3 September 2003). Accordingly, all the                     
    outstanding Options have been cancelled. In addition, as at the           
    date of this announcement, there are no outstanding warrants,             
    options or securities convertible into Shares.                            
                                                                              
    Remittance in respect of valid acceptances of the Offers have             
    been posted (or will be posted, as the case maybe) to the relevant        
    Shareholders and Optionholders (as the case maybe) by ordinary            
    post at their own risk within ten days from the date of receipt           
    by the Registrar or the company secretary of the Company (as              
    the case maybe) of all requisite documents to render such                 
    acceptances valid and complete.                                           
                                                                              
    SHAREHOLDINGS AND PUBLIC FLOAT OF THE COMPANY                             
                                                                              
    Before 25 January 2005, being the date of an announcement in              
    relation to a possible offer of the Company, the Offeror and              
    parties acting in concert with it did not own any Shares nor              
    any outstanding warrants, options or securities convertible into          
    Shares. Immediately before the commencement of the Offers, the            
    Offeror and parties acting in concert with it own an aggregate            
    of 147,916,000 Shares, representing approximately 72.46% of the           
    entire issued share capital of the Company. There have been no            
    dealings in all securities of the Company by the Offeror, its             
    beneficial owners and parties acting in concert with any of them          
    during the Relevant Period other than entering into the S&P               
    Agreement. Taking into account the valid acceptances in respect           
    of 4,702,000 Shares under the Share Offer (subject to completion          
    of the transfer of those Shares to the Offeror), the Offeror              
    and parties acting in concert with it will become interested              
    in an aggregate of 152,618,000 Shares immediately after the               
    closing of the Offers, representing approximately 74.76% of the           
    existing issued share capital of the Company and of the voting            
    rights which may be exercised at general meetings of the Company.         
    As at the date of this announcement, the Offeror and parties              
    acting in concert with it do not own any outstanding warrants,            
    options or securities convertible into Shares. Upon the closing           
    of the Offers, approximately 24.98% of the existing issued share          
    capital of the Company remains to be held by the public who are           
    independent of the directors, chief executive or substantial              
    shareholders of the Company or its subsidiaries or any of their           
    respective associates (as defined in the Listing Rules).                  
    Accordingly, an application has been made by the Company to the           
    Stock Exchange for a waiver from strict compliance with Rule              
    8.08 of the Listing Rules on the 25% minimum public float                 
    requirement for a period of one month from the date of this               
    announcement and the Company will take appropriate steps as soon          
    as practicable to ensure that at least 25% of the issued share            
    capital of the Company will be held in public hands in order              
    to comply with the minimum public float requirement under Rule            
    8.08 of the Listing Rules.