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RTNominal down0.248 -0.012 (-4.615%)

08/07/2011 09:41

Amax (00959) Board denies stake dilution in Greek Mythology

Amax Holdings (00959) said it has been informed that
a capitalization of a shareholder's loan owed by an associate to one of the associate's
shareholders has been completed near the end of 2010 and accordingly Amax's initial
holding of 49.9% of the share capital in the associate has been diluted to 24.8%.
The Board, however, is of the view that Amax is still holding 49.9% in the associate and
has determined to use this percentage to account for its interests in the associate
despite the fact that the capitalization has been completed.
The Board has resolved to establish and has constituted an independent Board committee
comprising all the independent non-executive directors to conduct investigations into
matters in relation to the capitalization.
Greek Mythology (Macau) Entertainment Group is currently the only associate under Amax's
financial statement.
Trading in shares of Amax will remain suspended until further notice. (HL)

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