XN000022-1995-04-27 — Page 36

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The Education Department is now planning to set up two more resource centres, one on the Hong Kong Island and one in the New Territories.

At present, the Centre has a collection of 5,249 titles of course books, references and other publications, 107 titles of journals, 176 sets of learning aids and 102 pieces of computer software.

End/Thursday, April 27, 1995

BCCHK announces 9th dividend to creditors

The following is issued on behalf of the Official Receiver and Liquidator of Bank of Credit and Commerce Hong Kong Limited (In Liquidation):

Mr Robin Hearder, the Official Receiver and Liquidator of Bank of Credit and Commerce Hong Kong Limited (In Liquidation) today (Thursday) announced that a ninth dividend to creditors will be declared in the amount of 4% of their admitted claims on April 28.

The 4% announced today will be the ninth dividend to creditors owed more Creditors owed than HK$100,000 and will bring dividends declared to 87%. HK$100,000 or less were paid in full following a Scheme of Arrangement approved in September, 1992.

Cheques will be despatched from April 28 and all should have been sent by May 5.

This is the fifth dividend payment in the past 12 months and is in accordance with the dividend timetable originally estimated by Mr Hearder of dividend payments every three months, subject to the timing of asset realisations and the resolution of significant claims.

An ongoing review of the levels of cash balances which need to be reserved in order to meet potential dividends to known depositors and other claimants, pending trust claims and future expenditure has allowed the Special Managers to further reduce some of those provisions.

This reduction of provisions taken together with continuing debt recoveries has enabled the Special Managers to declare this dividend.

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