¡
REPORT OF THE BOARD OF DIRECTORS
for
THE YEAR ENDED 31ST DECEMBER 1955
for
PRESENTATION TO THE SHAREHOLDERS
at the
TWENTY-EIGHTH ORDINARY ANNUAL MEETING
to be held at the
COMPANY'S OFFICES
Jordan Road Ferry Pier
Kowloon
ON SATURDAY, 7TH APRIL, 1956
at 12.00 noon.
GENTLEMEN,
The Directors have pleasure in presenting their Report and audited Statement of Accounts for the Year ended 31st December, 1955.
The net profit for the Year amounts to
to which must be added:-
Amount brought forward ...
An Interim Dividend of $2.50 per share on 504,000 shares was declared on 21st
September, 1955, absorbing
and your Directors now make the following further recommendations:-
To pay Final Dividends::
On 7,500 Preferential Shares $5.00 per share On 496,500 Ordinary Shares $4.50 per share
37,500.00
2,234,250.00
To Transfer to Reserve for New Construction
To Transfer to Taxation and Contingencies Reserve... To Transfer to Leasehold Properties Sinking Fund To Carry Forward
:
:
$ 5,507,374.57
369,715.66
$ 5,877,090.23
$ 1,260,000.00
2,271,750.00
$ 3,531,750.00
1,000,000.00
600,000.00
130,000.00
615,340.23
$ 5,877,090.23
DIRECTORS:
In accordance with the Articles of Association, all the Ordinary Directors now retire and being eligible offer themselves for re-election.
AUDITORS:
The Accounts have been audited by Messrs. Martin & Co., who offer themselves for re-election.
Hongkong, 9th March, 1956
URBAN COUNCIL PUBLIC LIBRAKIES R»ference Library. City Hall
T. N. CHAU
CHAIRMAN.