Annual Report 30 June 2007 - One Horizon Group

6
REPORT OF THE DIRECTORS
The Directors present their report and the audited accounts of the Group and Company for the year ended 30 June 2007.
Principal activity
The principal activity of the Company is that of a holding company, and the principal activity of the Group during the year was
distributing satellite communication equipment and airtime.
Results and dividends
The retained profit for the year of $2,959,000 (2005: $1,981,000) was transferred to reserves. During the year dividends of
$235,000 were paid (2006: $78,000). A final dividend of 0.33 cents per ordinary share (2006: 0.25 cents) will be proposed at the
forthcoming Annual General Meeting to be held on 19 December 2007. Subject to approval at the Annual General Meeting, the
dividend will be payable on 21 December 2007 to those shareholders on the register of members on 30 November 2007.
Review of the business and future developments
The Directors are required to present an extended business review, reporting on the development and performance of the Group
and the Company during the year and their positions at the end of the year. The requirement is met by the Chairman’s and Chief
Executive’s Statements on pages 2 and 3.
Directors and their interests
The Directors of the Company who held office at the date of this report are shown on page 4. The following changes to the
composition of the Board were made during the year:
Director Date of resignation Date of appointment
David Hickey 31 October 2006 –
Stephen Austin – 8 January 2007
The interests of the Directors in office, at 30 June 2007 in the issued share capital of the Company, were as follows:
Number of shares Number of shares
2007 2006 2007 2006
Ordinary shares Ordinary shares Deferred shares Deferred shares
Mark White 16,473,000 16,473,000 17,000 17,000
Martin Ward 10,659,000 10,659,000 11,000 11,000
Alexandra Johnson 10,659,000 10,659,000 11,000 11,000
Richard Vos 33,334 33,334 – –