1. News Article published in Nanyang Press
Reference is made to the Company’s announcements made on 5 January 2012.
XDL, after having made due and diligent enquiry with our major shareholder, namely HongPeng International Holdings Ltd (“HongPeng”) and the Board of Directors, wishes to inform that the discussions between Navis Capital and HongPeng held during October and November of last year were solely exploratory in nature and there was no offer being made or a price range indicated by Navis Capital.
These exploratory discussions were discontinued in late November 2011.
2. News Article published on page 14, The Edge Malaysia for the Week of 9 January 2012 to 15 January 2012
Reference is made to the news Article published on page 14, The Edge Weekly particularly on the statements which states that:-
(a) XIDELANG Holdings Limited's largest shareholder, Hong Peng International Holdings Ltd, has no intention of selling its stake in the shoe producer.
(b) According to an official of the Company, it has been receiving enquiries from the external parties, including private equity firms, but the major shareholder were not keen about the offer on the table.
XDL, after having made due and diligent enquiry with our major shareholder, namely HongPeng and the Board of Directors, wishes to inform that HongPeng has been receiving enquiries from external parties including private equity firms, but HongPeng has no intention of selling its stake at this juncture.
XDL will make the appropriate announcement to Bursa Malaysia Securities Berhad (“Bursa Securities”) in a timely manner in accordance with Bursa Securities Listing Requirements, should there be any further development on this matter.