Annual Report - QuamIR

Notes to the Consolidated Financial Statements (Continued)
15 Distribution (Continued)
(a) Special cash dividends
15
(a)
2011 2010
HK$ Million HK$ Million
First special cash dividend paid, of HK1.0
cent (2010: Nil) per ordinary share
Second special cash dividend (with scrip
option) proposed, of HK1.0 cent
(2010: Nil) per ordinary share
1.0 108.3 –
1.0
108.3 –
216.6 –
(i)
First special cash dividend was approved and the amounts
were accounted for as an appropriation of the contributed
surplus account for the year ended 31 December 2011.
(i)
(ii)
Second special cash dividend of HK1.0 cent (with scrip
option) per ordinary share is proposed and the amounts
are not accounted for until they are approved at the
forthcoming annual general meeting. The amounts will
be reflected as an appropriation of contributed surplus
account for the year ending 31 December 2012.
(ii)
1.0
(b) Distribution in kind
The distribution of CRE shares was approved by an ordinary
resolution on 13 October 2011.
(b)
On 3 November 2011, 1,385,170,068 CRE shares were issued
upon full conversion of the 1,385,170,068 convertible preferred
shares and the Company distributed 617,514,508 CRE shares to
its shareholders, and the Company indirectly held 1,275,541,937
CRE shares, representing approximately 54.13% of the issued
ordinary share capital of CRE at the same date.
1,385,170,068
1,385,170,068
617,514,508
1,275,541,937
54.13%
138 HKC (Holdings) Limited • Annual Report 2011