CMB_2001 — Page 33

Notes on The Accounts (Continued)

14. CREDITORS AND ACCRUALS

Included in creditors and accruals are trade creditors with the following ageing analysis:

Due after 3 months

The following amounts are expected to be settled after more than one year:

Creditors and accruals

15. AMOUNTS DUE FROM/TO GROUP COMPANIES

2001

$000's

2000

$000's

706

706

The group

The company

2001

2000

2001

2000

$000's

$000's

$000's $000's

(9,498)

(8,287)

(7,633)

(7,309)

The amounts due from/to group companies are unsecured, interest free and repayable on demand.

16. AMOUNTS DUE FROM SUBSIDIARIES

The amounts due from subsidiaries are unsecured, interest free and repayable on demand.

17. SHARE CAPITAL

Authorised:

Ordinary shares of $2 each.

Issued and fully paid:

At 1st July

Shares repurchased

At 30th June

2001

2000

No. of shares

Amount

$000's

No. of shares

Amount

$000's

50,000,000

100,000

50,000,000 100,000

92,537

(731)

46,268,256 92,537

46,268,256

(365,200) 45,903,056 91,806 46,268,256 92,537

During the year, the company repurchased 365,200 of its own shares on the Stock Exchange of Hong Kong Limited as follows:

Aggregate price paid

Month/Year

September 2000

October 2000

November 2000

December 2000

January 2001 February 2001

March 2001

April 2001

May 2001

June 2001

No. of ordinary shares

Highest price paid

repurchased

per share

Lowest price paid per share

$

$

$000's

12,000

40.30

39.70

485

126,600

44.50

40.20

5,360

33,600

48.00

46.50

1,599

41,800

49.80

44.40

1,957

22,600

54.75

50.75

1,198

29,000

63.00

58.00

1,778

11,200

56.25

54.00

621

17,800

63.00

54.75

1,052

20,000

63.00

61.50

1,258

50,600

70.00

68.50

3,550

365,200

18,858

Except for the repurchase of ordinary shares by the company referred to above, the company and its subsidiaries have not purchased, sold or redeemed any of the company's shares during the year.

The repurchased shares were cancelled and accordingly the issued share capital of the company was reduced by the nominal value of these shares. However, pursuant to section 49H of the Hong Kong Companies Ordinance, an amount equivalent to the par value of the shares cancelled of $731,000 was transferred from the retained profits to the capital redemption reserve (note 18). The premium paid on the repurchase of the shares of $18,127,000 was charged to the retained profits (note 18).

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