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PMB is pleased to announce that its sub-subsidiary, PMBC has on 16 October 2002 acquired 80 ordinary shares of HK$1.00 each, fully paid representing 80% of the total issued and paid-up share capital in Unison International (H.K.) Ltd. from Full Talent Enterprise Limited and Wong Tai Chi Simon.
1. Background Information
Unison International (H.K.) Ltd. ( Unison ) was incorporated on 9 June 1999. The current Authorised Share Capital of Unison is HK$10,000.00 divided into 10,000 ordinary shares of HK$1.00 each and the issued and paid-up share capital is HK$100.00 comprising 100 ordinary shares of HK$1.00 each. The principal activity of Unison is contractor for architectural products.
The rational for the Acquisition of PMBC is to enable the Group to diversify its activities into architectural products in Hong Kong and China.
2. Details of the Acquisition
Prior to the Acquisition, Full Talent Enterprise Limited and Wong Tai Chi Simon held 90 and 10 ordinary shares of HK$1.00 each respectively in PMBC. The total consideration for the Acquisition of HK$80 is summarised below:-
| Name | No. of Shares Held | Consideration (HK$) |
| Full Talent Enterprise Limited | 70 | 70 |
| Wong Tai Chi Simon | 10 | 10 |
Total | 80 | 80 |
The Acquisition would not have any material effect on the earnings per share and net tangible assets per share of PMB for the financial year ending 31 December 2002. The Acquisition is satisfied entirely by cash and therefore, would not have any effect on the share capital and substantial shareholding of PMB.
3. Directors, Major Shareholders and/or Persons Connected.
None of the Directors or substantial shareholders of PMB has any interest, direct or indirect, in the acquisition of Unison by PMBC.