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ncial Statements 34. SHARE CAPITAL (continued) 34. (a) Ordinary shares (continued) (a) (iii) On 3 July 2002, three subscription (iii) agreements were entered into between the Concord Fortune Company and Concord Fortune Limited, Limited CyberTime Limited CyberTime Limited and Novel Investments Novel Investments (Overseas) Limited (the “Subscribers”) (Overseas) Limited whereby each of the Subscribers agreed to subscribe for 41,500,000 new ordinary 0.6388 shares in the Company of HK$0.10 each for 79,531,000 cash at HK$0.6388 each at an aggregate cash 41,500,000 consideration of HK$79,531,000. The 0.10 proceeds were raised for working capital purpose. (iv) Pursuant to a conditional securities (iv) exchange offer (the “Offer”) announced by the Company on 11 July 2002, the Company issued 187,240,801 new ordinary shares of 63,859,000 HK$0.10 each at issue prices ranging from 0.320.40 HK$0.32 to HK$0.40 per ordinary share for 187,240,8010.10 an aggregate consideration of HK$63,859,000, for the purpose of acquiring Sing Tao Media Holdings the remaining 25.5% equity interests in Sing LimitedSing Tao Media Tao Media Holdings Limited (“Sing Tao Sing Tao Media”) then held by the minority Media25.5% shareholders of Sing Tao Media. After the Sing Tao Media completion of the Offer, Sing Tao Media became a wholly-owned subsidiary of the Company. Details of the Offer are included in the Company’s circular dated 30 August 2002. Global China Group Holdings Limited Annual Report 2002 129
Notes to Fina Notes to Financial Statements 31 December 2002 34. SHARE CAPITAL (continued) 34. (a) Ordinary shares (continued) (a) (v) On 19 July 2002, on a conditional basis, (v) Luckman exercised the conversion rights Luckman attached to 36,000,000 preference shares 36,000,000 to subscribe for 36,000,000 ordinary shares of the Company. On 30 December 2002, 36,000,000 Luckman paid up the remaining 90% of the cash subscription price of HK$0.6388 per Luckman0.6388 share for 36,000,000 preference shares so 36,000,00090% as to enable it to exercise the conversion rights attached to these fully paid-up preference shares. The additional proceeds received by the Company thereof amounted 20,696,000 to approximately HK$20,696,000 and such Luckman conversion resulted in 36,000,000 new 36,000,000 ordinary shares of the Company being issued to Luckman and credited as fully paid. The proceeds were used for working capital purpose. 130 Global China Group Holdings Limited Annual Report 2002
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CONTENTS CONTENTS Global China Gro
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nformation AUDITORS Ernst & Young
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Statement I am also proud to tell
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05 06 07 08 09 05: “Sing Tao Dai
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cussion and Analysis The gearing r
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cussion and Analysis 1. Newspaper
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cussion and Analysis With the acqu
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cussion and Analysis 1. Print Medi
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cussion and Analysis With a view t
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cussion and Analysis Although we h
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04 05 06 07 08 04: China Touch Med
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enior Management Mr. Jia Hong Ping
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enior Management Mr. Yang Yiu Chon
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enior Management Dr. Tong Yuk Lun,
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enior Management Ms. Chan has over
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e Directors SUMMARY FINANCIAL INFOR
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e Directors DIRECTORS The directors
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e Directors DIRECTORS’ INTERESTS
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e Directors Save as disclosed above
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e Directors Following the commencem
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e Directors AUDITORS Ernst & Young
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e Auditors We planned and performe
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fit and Loss Account Period from
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Balance Sheet 2002 2001 Notes H
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ent of Changes in Equity Issued I
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sh Flow Statement Period from 1 A
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sh Flow Statement Period from 1 A
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Balance Sh Balance Sheet 31 Decemb
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ncial Statements 2. IMPACT OF NEW
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ncial Statements 2. IMPACT OF NEW
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ncial Statements 3. SUMMARY OF SI
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Page 92 and 93: ncial Statements 7. PROFIT/(LOSS)
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Page 96 and 97: ncial Statements 10. DIRECTORS’
Page 98 and 99: ncial Statements 11. FIVE HIGHEST
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Page 102 and 103: ncial Statements 15. FIXED ASSETS
Page 108 and 109: ncial Statements 17. GOODWILL AND
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Page 120 and 121: ncial Statements 26. CASH AND CAS
Page 122 and 123: ncial Statements 28. INTEREST-BEA
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Page 126 and 127: ncial Statements 33. DEFERRED TAX
Page 128 and 129: ncial Statements 34. SHARE CAPITA
Page 136 and 137: ncial Statements 35. SHARE OPTION
Page 146 and 147: ncial Statements 36. RESERVES (co
Page 148 and 149: ncial Statements 37. NOTES TO THE
Page 156 and 157: ncial Statements 38. CONTINGENT L
Page 158 and 159: ncial Statements 40. OPERATING LE
Page 160 and 161: ncial Statements 41. COMMITMENTS
Page 162 and 163: ncial Statements 42. POST BALANCE
Page 164 and 165: ncial Statements 44. PARTICULARS
Page 170 and 171: ncial Statements 45. COMPARATIVE
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Page 176 and 177: Notice of Gene Notice of Annual Ge
Page 178 and 179: al General Meeting (d) for the pur
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al General Meeting (c) the aggrega
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