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Chai-Na-Ta Corp. Announcement.


Business Editors & Health/Medical Writers

LANGLEY, British Columbia--(BUSINESS WIRE)--March 21, 2002

Chai-Na-Ta Corp. (TSE See Tokyo Stock Exchange.

TSE

1. See Tokyo Stock Exchange (TSE).

2. See Toronto Stock Exchange (TSE).
:CC) (OTCBB OTCBB

See OTC Bulletin Board (OTCBB).
:CCCFF) has been informed that the five employees of Wai Kee Holdings Limited ("Wai Kee"), including Mr. William Zen, who is also Chairman of the Company, have been notified of their unconditional release from bail by the Independent Commission Against Corruption Several places have organisations called the Independent Commission Against Corruption:
  • Independent Commission Against Corruption of Hong Kong, established 1974
  • Independent Commission Against Corruption (New South Wales), established 1988
 ("ICAC ICAC Independent Commission Against Corruption
ICAC Internet Crimes Against Children
ICAC International Cotton Advisory Committee
ICAC International Conference on Autonomic Computing
ICAC Instituto de Contabilidad y Auditoría de Cuentas (Spain) 
") in Hong Kong and no charges will be laid against any of them. Wai Kee, a Hong Kong-based publicly listed company, is the largest shareholder of Road King Infrastructure Limited (Road King), another Hong Kong-based publicly listed company, which has control of a majority of the outstanding shares of the Company.

On March 22, 2001, the Company announced that five employees and one former employee of Wai Kee had been arrested and subsequently released on bail by the ICAC.

On March 14, 2002, Wai Kee has been informed by the legal advisors to the five employees that the ICAC has granted them an unconditional release from bail. Wai Kee's announcement indicates that no charges will be laid against any of the five persons.

Chai-Na-Ta Corp., based in Langley, British Columbia Langley, British Columbia can mean the following:
  • Township of Langley
  • City of Langley
, is the world's largest supplier of North American ginseng ginseng (jĭn`sĕng), common name for the Araliaceae, a family of tropical herbs, shrubs, and trees that are often prickly and sometimes grow as climbing forms. . The Company farms, processes and distributes North American ginseng as bulk root, and supplies processed extract powder for the manufacture of value-added ginseng-based products.

This news release contains forward-looking statements that reflect the Company's expectations regarding future events. These forward-looking statements involve risks and uncertainties, and actual events could differ materially from those projected. Such risks and uncertainties include, but are not limited to, the success of the Company's ongoing research programs, general business conditions, and other risks as outlined in the Company's periodic filings, Annual Report, and Form 20-F.
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Copyright 2002, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

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Publication:Business Wire
Date:Mar 21, 2002
Words:289
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