09:34     SNP LEEFUNG<00623> - Announcement (6)                               

    Commission:  2.0% of the Subscription Price of the Underwritten Shares    
                                                                              
    Termination of the Underwriting Agreement                                 
                                                                              
    The Underwriter may terminate the arrangements set out in the             
    Underwriting Agreement by notice in writing issued to the Company at      
    any time prior to 4:00 p.m. on the Settlement Date if there occurs:       
                                                                              
    (a)   an introduction of any new law or regulation or any change in       
    existing law or regulation (or the judicial interpretation thereof); or   
                                                                              
    (b)   any local, national or international event or change of a           
    political, military, financial, economic, exchange control or currency    
    (including a change in the system under which the value of the Hong       
    Kong currency is linked to the currency of the United States of           
    America) or other nature or of the nature of any local, national or       
    international outbreak or escalation of hostilities or armed conflict,    
    or affecting local securities market; or                                  
                                                                              
    (c)   any act of God, war, riot, public disorder, civil commotion,        
    fire, flood, explosion, epidemic, terrorism, strike or lock-out; or       
                                                                              
    (d)   any material adverse change in the financial or trading position    
    of the Group as a whole; or                                               
                                                                              
    (e)   there occurs or comes into effect the imposition of any             
    moratorium, suspension or material restriction on trading in the shares   
    of the Company generally on the Stock Exchange due to exceptional         
    financial circumstances or otherwise; or                                  
                                                                              
    (f)   the commencement by any third party of any litigation or claim      
    against any member of the Group which is or might be material to the      
    Group taken as a whole; or                                                
                                                                              
    (g)   the imposition of economic or other sanctions, in whatever form     
    directly or indirectly, on Hong Kong, the PRC or other jurisdiction       
    relevant to the Group or any member of the Group,                         
                                                                              
    and in the absolute opinion of the Underwriter, such change would have    
    a material and adverse effect on the business, financial or trading       
    position or prospects of the Group as a whole or the success of the       
    Rights Issue or make it inadvisable or inexpedient to proceed with the    
    Rights Issue.                                                             
                                                                              
    CHANGES IN THE SHAREHOLDING STRUCTURE OF THE COMPANY ARISING FROM THE     
    RIGHTS ISSUE                                                              
                                                                              
    The changes in the shareholding structure of the Company arising from     
    the Rights Issue are as follows:                                          
                                                                              
    Scenario 1                                                                
                                                                              
    Assuming none of the outstanding Exercisable Share Options is exercised   
    on or before the Record Date:                                             
                                                                              
        Immediately after   Immediately after                                 
        completion of   completion of                                         
        the Rights Issue   the Rights Issue                                   
      As at the date of   on the assumption   on the assumption               
      this announcement  as set out in Note 3  as set out in Note 4           
      No. of Shares  %  No. of Shares  %  No. of Shares     %                 
                                                                              
    SNP  282,343,988  70.11  352,929,985  70.11  352,929,985  70.11           
                                                                              
    Mr. Peter, Yang Sze Chen (Note 1)  17,414,867  4.32  21,768,583  4.32     
    17,414,867      3.46                                                      
                                                                              
    The Underwriter (Note 2)  -  -  -  -  30,095,732        5.98              
                                                                              
    Public Shareholders  102,968,063  25.57  128,710,079  25.57               
    102,968,063  20.45                                                        
                                                                              
    Total  402,726,918  100.00  503,408,647  100.00  503,408,647  100.00      
                                                                              
    Notes:                                                                    
                                                                              
    1.   Mr. Peter, Yang Sze Chen, the chairman of the Company and an         
    executive Director, is directly interested in 900,000 Shares and          
    indirectly interested in 16,514,867 Shares through Team Long              
    Development Limited, a company wholly owned by Mr. Peter, Yang Sze Chen.  
                                                                              
    2.   Being the underwriter of the Underwritten Shares pursuant to the     
    Underwriting Agreement.