News

18:09:50

FENC's subsidiary Far Eastern Polychem Industries Ltd. announces acquiring shares of Far Eastern
Industries (Shanghai) Ltd.

1.Name and nature of the subject matter (if preferred shares,the terms and conditions of issuance
shall also be indicated,e.g.dividend yield):shares of Far Eastern Industries (Shanghai) Ltd.

2.Date of occurrence of the event:2010/02/25

3.Volume, unit price, and total monetary amount of the transaction:
NA, NA, total price USD11,500,000

4.Counterpart to the trade and its relationship to the Company (if the trading counterpart is a natural
person and furthermore is not an actual related party of the Company, the name of the trading
counterpart is not required to be disclosed):Far Eastern Industries (Shanghai) Ltd.
;Equity method investee

5.Where the counterpart to the trade is an actual related party,a public announcement shall also be
made of the reason for choosing the related party as trading counterpart and the identity of the
previous owner (including its relationship with the company and the trading counterpart), price of
transfer, and date of acquisition:Cash capital increase;Nil

6.Where a person who owned the property within the past five years has been an actual related
person of the company, a public announcement shall also include the dates and prices of
acquisition and disposal by the related person and the person’s relationship to the company at
those times:Nil

7.Matters related to the creditor's rights currently being disposed of (including types of collateral of
the disposed creditor's rights;if the creditor's rights are creditor's rights toward a related person, the
name of the related person and the book amount of the creditor's rights toward such related person
currently being disposed of must also be announced):NA

8.Anticipated profit or loss from the disposal (not applicable in cases of acquisition of securities)
(where originally deferred, the status or recognition shall be stated and explained):NA

9.Terms of delivery or payment (including payment period and monetary amount), restrictive
covenants  in the contract, and other important stipulations:Cash/Nil/Nil.

10.The manner in which the current transaction was decided, the reference basis for the decision
on price, and the decision-making department:Cash capital increase, The BOD's resolution.

11.Current cumulative volume, amount, and shareholding percentage of holdings of the security
being traded (including the current trade) and status of any restriction of rights (e.g.pledges):
NA; HKD1,457,428,510; 87.64%; Nil

12.Current ratio of long or short term securities investment (including the current trade) to the total
assets and shareholder's equity as shown in the most recent financial statement and the operating
capital as shown in the most recent financial statement:
56.88%; 106.45%; HKD0

13.Broker and broker's fee:NA

14.Concrete purpose or use of the acquisition or disposition:
to increase investment.

15.Net worth per share of company underlying securities acquired
or disposed of:NA

16.Do the directors have any objection to the present transaction?:Nil.

17.Has the CPA issued an opinion on the unreasonableness of the price
of the current transaction?:Nil

18.Any other matters that need to be specified:Ni