THE STOCK EXCHANGE OF HONG KONG LIMITED
(A wholly-owned subsidiary of Hong Kong Exchanges and Clearing Limited)

 

ANNOUNCEMENT

In relation to the matter of
Orient Power Holdings Limited (Receivers and Managers Appointed)
(In Compulsory Liquidation)
(Stock code: 615)

Cancellation of listing
in accordance with Practice Note 17 to the
Rules Governing the Listing of Securities on
The Stock Exchange of Hong Kong Limited (the Listing Rules)

The Exchange hereby announces that with effect from 9:30 a.m. on 14 March 2008, the listing of the shares of the Company will be cancelled in accordance with the Delisting Procedures. By the end of the deadline mentioned below, the Company has failed to submit a viable resumption proposal.  Therefore, the Exchange will cancel the listing of the Company's shares in accordance with the Delisting Procedures.

The Stock Exchange of Hong Kong Limited (the Exchange) announces that the listing of the shares of Orient Power Holdings Limited (Receivers and Managers Appointed) (In Compulsory Liquidation) (the Company) will be cancelled with effect from 9:30 a.m. on 14 March 2008 in accordance with the delisting procedures stipulated in Practice Note 17 to the Listing Rules (the Delisting Procedures). Practice Note 17 to the Listing Rules formalises the procedures to be adopted to delist long-suspended companies.

Dealings in the Company's shares have been suspended since 27 April 2006.  Accordingly, dealings in the Company's shares have effectively been suspended for over 22 months.

The Company was put into the third stage of the Delisting Procedures on 6 September 2007 and was required to submit a viable resumption proposal at least 10 business days (as defined in the Listing Rules) before the expiry of the six-month period for the third stage of the Delisting Procedures.  Pursuant to the Delisting Procedures, at the end of the third stage which in the case of the Company was 5 March 2008, where no viable proposals have been received for resumption, the listing of the Company's shares will be cancelled.   The Company has failed to submit a viable resumption proposal as required. Therefore, the Exchange will cancel the listing of the Company’s shares.

The Exchange has notified the Company of its obligation under paragraph 3.1 of Practice Note 17 to issue an announcement informing the public of the cancellation of the listing of its shares on the same day of this announcement.

The Exchange advises shareholders of the Company who have any queries about the implications of the delisting to obtain appropriate professional advice.