one day a dividend next an spp!!!

Yikes!!

SCE
Look at this, having advised shareholders they will be in for a monster dividend the other day (in the form of shares of course) and having failed to persuade the sophisticated investors to invest at 18c a share a few months ago and despite issuing shares to themselves at what was way under the market price when they were suspended (and under the market price it is now), and despite the claimed p/e of 0.64 (or whatever it says on trading room stats which are always hopelessly meaningless anway) the company has decided it is now "pleased to announce" it is going to give YOU the shareholder the opportunity to purchase zillions more shares in the company with your own CASH at the market price (as detailed below) no doubt so you will be able to receive your "dividend" in shares on the Hong Kong s/e later.

I can see the shares being pushed up after Feb 14th?? But beware. I will not be in it - as stated before NOTHING would induce be to buy shares in this company EVER again.

pj

SUNTECH ENVIRONMENTAL GROUP LIMITED 2003-02-10 ASX-SIGNAL-G

HOMEX - Melbourne

+++++++++++++++++++++++++
SunTech Environmental Group Limited ("SCE") is pleased to announce
that a share purchase plan ("the Plan") is proposed to all the
shareholders with an aim to enable the shareholders to top up their
shareholding at minimal cost without paying brokerage and other
transaction costs. The shareholders are then given a chance to
subscribe for more shares in the Company. The plan is as follows:

1. Each shareholder can only subscribe up to a maximum of A$5,000 of
and minimum of A$500 of shares in SCE under the Plan. All
shareholders would be given a chance to participate under the Plan on
an equal basis irrespective of the number of shares held by each
shareholder on the Record Date which is currently set as 11th March,
2003.

2. The total shares to be issued under this Plan is limited to 20% of
the total current issued capital of the Company, being 378,403,000
shares in total, ie the maximum number of shares to be issued under
this plan is limited to 75,680,600 shares.

3. No discount below market price for the shares under the Plan be
offered and that the Issue Price of the shares under this Plan be
the average market price for the previous five (5) trading days
immediately before the Offer is despatched to the shareholders on
14th February 2003.

4. Directors and their associates and related parties are excluded
from participation under the Plan.

Details of the Plan and application form will be mailed to each
shareholder accordingly on 14th February, 2003.

Should you have any queries or should you not receiving details of
the Plan, please contact the undersigned or our Assistant Company
Secretary, Ms Lacony Yue, at tel no (852) 2867 1780 during office
hours or to our email address of: [email protected].


V Choi
EXECUTIVE DIRECTOR

--------------------------------------------------------------------------------