CMB_1992 — Page 7

Report of the Directors (Continued)

DIRECTORS' INTERESTS IN SHARES

At 30th June, 1992, the directors and their associates had the following interests in the issued share capital of the company as recorded in the register of directors' share interests:

Ordinary shares of HK$2 each Personal Family

Other

Ngan Shing-kwan

Ngan Kit-ling Ngan Kit-keung Dr. Henry Ngan

M.T. Geoffrey Yeh

Liu Lit-mo

D.A. L. Wright

Gordon K.C. Siu

Andrew K.P. Leung

interests

interests

interests

3,568,637

33,468 (Note)

3,313,799

33,468 (Note)

5,509,468

1,250

33,468 (Note)

5,741,579

250

33,468 (Note)

1,250

62,250

5,000

Note: The 33,468 shares in the company are included in the estate of the late Madam Wong Yick-mui, wife of Mr. Ngan Shing-kwan.

ARRANGEMENTS TO PURCHASE SHARES OR DEBENTURES

At no time during the year was the company or its subsidiary a party to any arrangements to enable the directors of the company to acquire benefits by means of the acquisition of shares in or debentures of the company or any other body corporate.

SUBSTANTIAL INTERESTS IN THE SHARE CAPITAL OF THE COMPANY

As far as directors are aware, no shareholder of the company who is not a director of the company is, directly or indirectly interested in 10 per cent, or more of the issued share capital of the company.

DIRECTORS' INTEREST IN CONTRACTS

Madam Ngan Kit-ling is the sole proprietor of Ngan & Co., one of the company's solicitors, and as such has an interest in legal fees and expenses paid by the company to that firm.

DIRECTORS' SERVICE CONTRACTS

No director proposed for re-election at the forthcoming ordinary yearly meeting has an unexpired service contract with the company which is not determinable by the company within one year without payment of compensation, other than normal statutory obligations.

PURCHASE, SALE OR REDEMPTION OF THE COMPANY'S LISTED SECURITIES

During the year, neither the company nor any of its subsidiary has purchased, sold or redeemed any of the company's listed securities.

SUMMARY OF FINANCIAL DATA

A summary of the group's financial data for the last five years is shown on page 25.

AUDITORS

A resolution for the reappointment of KPMG Peat Marwick as auditors of the company is to be proposed at the forthcoming ordinary yearly meeting.

By order of the board

NGAN Shing-kwan Chairman

Hong Kong, 9th November, 1992

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