South Sea Petroleum Holdings Limited

Formerly known as	Until
Sen Hong Resources Holdings Limited	9-Jun-04
Seaunion Holdings Limited	18-Mar-98
Summa Promet Energy Limited	21-Oct-93
Promet Petroleum Limited	17-Nov-89

SFC reprimands Ever-Long Securities Co Ltd for inadequate internal controls and staff supervision
SFC, 1-Jun-06

CSFB's Toxic Convertibles
Webb-site.com lifts the lid on the toxic convertibles scam in HK, in which small, mostly naive companies surrender control over future equity issuance to an investment bank, whose principal interest is to lock in a profit by converting bonds on a rolling basis at a deep discount to market and selling the resulting shares. CSFB has led the way down this value-destroying path, with Merrill Lynch recently joining the fray. We estimate that the banks make a gross profit on money raised of about 31%, and the average stock price has fallen 30% since a toxic convertible was launched. If you are a listed company, just say no. If you are an institutional investor, take your business elsewhere. (8-Jun-05)

Breach of Listing Rules
Company announcement, 9-Feb-01

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