CIL submitted new winding-up petition

CIL Holdings Limited (0479) announced that during the adjourned hearing held on 27 August, 2001, Sin Hua Bank Limited withdrew the winding-up petition against the company and Power Forward Finance Limited, another creditor of the company, obtained a leave from the Court to substitute as the petitioner. Subsequently, Power Forward Finance Limited presented an amended winding-up petition against the company at the High Court on 29 August, 2001. The current substantial shareholder of the company is Status Worldwide Limited, which presently together with its concert parties and associates, if any owns approximately 16.47% of the issued ordinary shares of the company. The share trading of the company will be resumed today.

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