Interim Report 2005 - Clear Media

More documents

Recommendations

Info

24 NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS 14. Related Party Transactions (continued) (a) Transactions with related parties (continued) In order to comply with the continuing connected transactions provisions of the Listing Rules, the Maintenance Services Agreements were terminated on 11 May 2004. On the same day, WHA Joint Venture entered into new Maintenance Services Agreements with the said companies on substantially the same terms as the old agreements for a fixed term of three years. (iv) WHA Joint Venture entered into a creative services agreement on 23 April2004withGWH,wherebyGWHagreedtoprovideposterdesign service, the design of sales, marketing materials and company profiles and other related creative services to the Group. These transactions were entered into on terms no less favourable than those available to or from independent third parties. (b) Outstanding balances with a related party 30 June 31 December 2005 2004 (Unaudited) (Audited) HK$’000 HK$’000 Due from GWH 19,560 19,807 (c) Compensation of key management personnel of the Group 30 June 30 June 2005 2004 (Unaudited) (Unaudited) HK$’000 HK$’000 Short term employee benefits 5,553 4,664 Share-based payments 1,658 1,658 Total compensation paid to key management personnel 7,211 6,322
SUPPLEMENTARY INFORMATION 25 Directors’ and Chief Executive’s Interests and Short Positions in Shares At 20 July 2005, the interests and short positions of the directors, the chief executive or their associates in the share capital of the Company or its associated corporations (within the meaning of Part XV of the Securities and Futures Ordinance (the ‘‘SFO’’)), as recorded in the register required to be kept by the Company pursuant to Section 352 of the SFO, or as otherwise notified to the Company and the Stock Exchange pursuant to the Model Code for Securities Transactions by Directors of Listed Issuers, were as follows: Long positions in ordinary shares of the Company as at 20 July 2005: Name of director Directly beneficially owned Number of shares held, capacity and nature of interest Through spouse or minor children Through controlled corporation Beneficiary of a trust Total Percentage of the Company’s issued share capital Han Zi Jing — — 13,600,000 — 13,600,000 2.71% Note: The 13,600,000 shares are held by Outdoor Media China, Inc. (‘‘OMC’’), a company incorporated in Western Samoa of Offshore Chambers. As at 20 July 2005, Mr. Han Zi Jing held approximately 98% of the issued share capital of Golden Profits Consultants Limited, which is the beneficial holder of 100% of the shares in OMC. The effective interest of Mr. Han Zi Jing in OMC is therefore 98%. Save as disclosed above, none of the directors and chief executive had registered an interest or short position in the shares, underlying shares of the Company or any of its associated corporations that was required to be recorded pursuant to Section 352 of the SFO, or as otherwise notified to the Company and the Stock Exchange pursuant to the Model Code for Securities Transactions by Directors of Listed Issuers. Directors’ Rights to Acquire Shares Apart from as disclosed under the headings ‘‘Directors’ and Chief Executive’s Interests and Short Positions in Shares’’ above and in the ‘‘Share Option Schemes’’ below, at no time during the interim period were rights to acquire benefits by means of the acquisition of shares in the Company granted to any director, or their respective spouse or minor children, or were any such rights exercised by them; nor was the Company, or any of its subsidiaries a party to any arrangement to enable the directors to acquire such rights in any other body corporate.
Page 2 and 3: CONTENTS 1 Financial Highlights 2 M
Page 4 and 5: 02 MANAGEMENT DISCUSSION AND ANALYS
Page 12 and 13: 10 CONDENSED CONSOLIDATED BALANCE S
Page 14 and 15: 12 CONDENSED CONSOLIDATED CASH FLOW
Page 16 and 17: 14 NOTES TO CONDENSED CONSOLIDATED
Page 28 and 29: 26 SUPPLEMENTARY INFORMATION Share
Page 30 and 31: 28 SUPPLEMENTARY INFORMATION The sh
Page 32 and 33: 30 SUPPLEMENTARY INFORMATION Media
Page 34 and 35: 32 FACTSHEET AT A GLANCE Shareholde
Page 36: 34 CORPORATE INFORMATION Principal

Interim Report 2005 - Clear Media

Create successful ePaper yourself

Delete template?

Save as template?