Directors of Shanghai Industrial exercise 11 mln warrants last year

Shanghai Industrial (0363) revealed in its annual report of 2000 that 6 directors of the company, including chairman Cai Lai Xing exercised their warrants last year at HK$8.808 each, involving 11 mln shares, of which Cai Lai Xing exercised all his 4 mln warrants in hand. If counted as the current market price of HK$14.55, Mr cai gained about HK$22.968 in the counting book, circa gaining HK$5.742 per share. Mr Cai now held 4 mln shares of Shanghai Industrial.

By the end of last year, the directors of Shanghai Industrial had 12.3 mln warrants unexercised wih exercise prices ranging from HK$9.568 to HK$30.92.

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