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Karen Lo Ki Yan and Cindy Yau Shum Tek buy 33.98% of Tung Fong Hung (0279) from ITC (0372) for HK$180m

Company announcement, 10-Nov-2000

The effective price is HK$0.743 per share, a 207% premium to market. The entire board of directors is being replaced, but there will be no general offer as the Takeover offer trigger is 35%, so this is a takeunder. $70m of the payment is deferred for 6 months.

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