REPORT OF THE DIRECTORS 董事會報告書
The Directors have pleasure in
submitting their annual report together with the audited statement of accounts for the year ended 31st December,
1987.
PRINCIPAL ACTIVITY
The principal activity of the Company is
the operation of franchised public buses. in Hong Kong.
ACCOUNTS
The profit of the Company for the year ended 31st December, 1987 and the state of the Company's affairs at that date are set out in the accounts on pages 34 to 45.
An interim dividend of 15 cents per share was paid on 16th October, 1987. The Directors now recommend that a
final dividend of 35 cents per share in
respect of the year ended 31st
December, 1987 be paid on 8th June, 1988.
CAPITAL
In accordance with an ordinary
resolution passed on 4th June, 1987,
the authorised share capital of the
Company was increased from
$260,000,000 to $330,000,000 by the
creation of an additional 70,000,000 shares of $1 each.
On 4th June, 1987, in order to bring
the issued share capital of the
Company gradually in line with its existing asset base, a sum of $64,582,306 standing to the credit of the capital reserve was capitalised and utilised for the issue of fully paid bonus. shares, in the proportion of one for four, to persons who were registered shareholders on 18th May, 1987. The
董事會同寅現謹向各股東提呈截至
一九八七年十二月三十一日止年度之報告 及已審核賬項,以供覽閱。
主要業務
本公司之主要業務為在本港經營有專利權 “之公共汽車服務。
賬項
本公司在一九八七年十二月三十一日之 財務狀況及結至該日止全年之盈利刊於本 賬項第四十八頁至五十八頁。
中期股息每股一角五仙已於一九八七年 十月十六日派發,董事會現建議於
一九八八年六月八日派發結至一九八七年 十二月三十一日止年度之末期息 每股三角五仙。
股本
依據一九八七年六月四日通過之尋常 決議,本公司之法定股本由二億六千萬元 增至三億三千萬元,即增加每股一元之 普通股七千萬股。
為使本公司之實發股本逐漸與現時 資產值一致,於一九八七年六月四日自 資本儲備撥出六千四百五十八萬二千三百 零六元-
作股本,並按每四股派送一紅股 之比例,將已繳足之紅股配發予
於一九八七年五月十八日名列股東名册之
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