Annual Report - QuamIR

More documents

Recommendations

Info

Notes to the Consolidated Financial Statements (Continued) 14 Earnings/(loss) per share (Continued) (b) Diluted (Continued) 14 (b) 2011 2010 Profit/(loss) attributable to equity holders of the Company (HK$ Million) Effect of assumed conversion of convertible preference shares issued by a subsidiary (HK$ Million) Effect of assumed conversion of bonus warrants issued by a subsidiary (HK$ Million) 241.3 (293.8) (11.1) (3.3) (0.8) – 229.4 (297.1) Weighted average number of ordinary shares in issue (Million) 10,664.5 10,359.7 Adjustment for bonus warrants (Million) 47.7 – Weighted average number of ordinary shares for diluted earnings/(loss) per share (Million) 10,712.2 10,359.7 Diluted earnings/(loss) per share (HK cents per share) 2.1 (2.9) Diluted earnings per share for the year ended 31 December 2011 did not assume the exercise of the share options of the Company and the share options, convertible note and subscription rights for convertible preference shares of its listed subsidiary outstanding during the year since the exercise would have an anti-dilutive effect. For the year ended 31 December 2010, diluted loss per share did not assume the exercise of the share options and bonus warrants of the Company and the share options, warrants, convertible note and subscription rights for convertible preference shares of its listed subsidiary outstanding during the year since the exercise would have an anti-dilutive effect. 136 HKC (Holdings) Limited • <strong>Annual</strong> <strong>Report</strong> 2011
Notes to the Consolidated Financial Statements (Continued) 15 Distribution On 30 August 2011, the Board of Directors proposed to make distributions out of contributed surplus of the Company in cash by way of special cash dividend of HK1.0 cent per ordinary share of the Company and in kind of 57 ordinary shares of China Renewable Energy Investment Limited (“CRE”) for every 1,000 shares of the Company to the qualifying shareholders. On the basis of a total of 10,833,587,875 HKC shares in issue as of 30 August 2011, the Company would be distributing 617,514,508 CRE shares. By ordinary resolutions passed on 13 October 2011, the special cash dividend and the distribution of CRE shares were approved (see note (a) (i) and (b) below). 15 1.0 1,00057 10,833,587,875 617,514,508 (a) (i)(b) On 30 August 2011, the Board of Directors also proposed to implement a share premium reduction to reduce the amount standing to the credit of its share premium account by approximately HK$1,134.0 million. The credit thus arising was transferred to the contributed surplus account of the Company. The Company applied its contributed surplus as enlarged to set-off and eliminate its entire accumulated losses and to make the distributions contemplated under the special dividend and the distribution. By a special resolution passed on 13 October 2011, the share premium reduction became unconditional and effective. 1,134,000,000 On 22 March 2012, the Board of Directors proposed a special cash dividend of HK1.0 cent per ordinary share payable in cash, with an option to elect new and fully paid ordinary shares of the Company in lieu of cash under the scrip dividend scheme. The new shares will, on issue, rank pari passu in all other respects with the existing shares. Shareholders who do not elect for scrip shares will be paid in cash. 1.0 • 137
Page 1 and 2:
HKC (HOLDINGS) LIMITED (incorporat
Page 3 and 4:
Contents 2 Corporate Information
Page 5 and 6:
Corporate Information (Continued)
Page 7 and 8:
Chairman’s Statement (Continued)
Page 9 and 10:
Chairman’s Statement (Continued)
Page 11 and 12:
Management Discussion and Analysis
Page 13 and 14:
Page 15 and 16:
Page 17 and 18:
Corporate Governance Report (Contin
Page 19 and 20:
Page 21 and 22:
Page 23 and 24:
Page 25 and 26:
Page 27 and 28:
Page 29 and 30:
Directors and Senior Management (Co
Page 31 and 32:
Page 33 and 34:
Page 35 and 36:
Report of the Directors (Continued)
Page 37 and 38:
Page 39 and 40:
Page 41 and 42:
Page 43 and 44:
Page 45 and 46:
Page 47 and 48:
Page 49 and 50:
Page 51 and 52:
Page 53 and 54:
Page 55 and 56:
Page 57 and 58:
Page 59 and 60:
Page 61 and 62:
Page 63 and 64:
Page 65 and 66:
Page 67 and 68:
Page 69 and 70:
Page 71 and 72:
Independent Auditor’s Report (Con
Page 73 and 74:
Consolidated Statement of Comprehen
Page 75 and 76:
Consolidated Balance Sheet (Continu
Page 77 and 78:
Consolidated Statement of Changes i
Page 79 and 80:
Consolidated Statement of Changes i
Page 81 and 82:
Notes to the Consolidated Financial
Page 83 and 84:
Page 85 and 86:
Page 87 and 88: Notes to the Consolidated Financial
Page 137: Notes to the Consolidated Financial
Page 187 and 188: Principal Subsidiaries, Associated
Page 189 and 190:
Principal Subsidiaries, Associated
Page 191 and 192:
Page 193 and 194:
Page 195 and 196:
Five-Year Financial Summary 2011 2
Page 197 and 198:
Schedule of Principal Properties (C
Page 199:
HKC (HOLDINGS) LIMITED 9/F., Tower
show all

Annual Report - QuamIR

Create successful ePaper yourself

Delete template?

Save as template?