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Denise Tsang

Main shareholders of loss-making Team Concepts Holdings plan to sell a 46 per cent stake in the company to an unidentified party.

   The extent of the stake sale means that it will trigger a general offer.

  The maker of educational toys yesterday suspended its shares.

  The share stake is to be sold by chairman Allan Chu Chi-wai, vice-chairman and managing director Bernard So Yuen-fai and related parties through Sun Hung Kai Securities.

  Under Hong Kong securities rules, the potential buyer has to make a general offer for the remaining shares, as the proposed purchase exceeds a 35 per cent holding.

  The shares are held by Mr Chu and Mr So through three companies - Haystone, Hambrok and King's Union Corp.

  Team Concepts yesterday supplied no more details of the share sale.

  The shares dropped two cents to 33 cents on Tuesday and have fallen about 30 per cent in the past six months.

  For the six months to September 1996, it lost $14.18 million against $2.6 million net profit in the 1995 period.



Team Concepts sale pact