1987 — Page 10

CHAIRMAN'S STATEMENT

主席報告

result of the extraordinary profit

earned from the disposal of a pre-war depot in Yuen Long.

BONUS ISSUE

Your Directors also recommend,

subject to the shareholders' approval at an Extraordinary General Meeting to be held following the Ordinary Yearly

Meeting on 8th June, 1988, a Bonus

Issue to shareholders of one fully paid share for every four shares held to

bring the issued capital of the Company

more in line with its asset base. The new shares will rank pari passu for all purposes with the existing shares of the Company save that they will not rank for the final dividend in respect of the year ended 3st December, 1987. In order to facilitate the Bonus Issue, your

Directors will also recommend at the

same Extraordinary General Meeting

that the authorised share capital of the

Company be increased from $330

million to $410 million by the creation of 80 million shares of $1 each.

CAPITAL STRUCTURE

As approved by the shareholders at

the Extraordinary General Meeting held

on 4th June, 1987, a Bonus Issue of

one fully paid share for every four shares held at the close of business on 18th_May, 1987, was made during the year. As a result, 64,582,306 new shares have been allotted and the relevant share certificates were sent to shareholders on 19th June, 1987.

In order to facilitate the foregoing Bonus Issue, the authorised share capital of the Company, as approved by the shareholders at the same Extraordinary General Meeting, was increased from

派發紅股

為使本公司之已發行股本與現時資產基 値更趨一致,董事會亦建議按照每 持有四股可獲派一繳足股之比例, 派發紅股予股東。惟此議案須於

一九八八年六月八日之週年大會後召開之 股東特別大會上獲股東通過。此項紅股與 本公司現有已發行股份享有相同權益, 但不享有截至一九八七年十二月三十一日 止年度之末期息。以備派發紅股, 董事會將於同一股東特別大會上建議 將公司法定股本由三億三千萬元增加 至四億一千萬元,即增加面值一元股份 八千萬股。

股本結構

根據一九八七年六月四日之股東特別大 會上通過之決議,本公司在本年內按 照在一九八七年五月十八日營業時間 結束時每持有四股可獲派一繳足股之 比例派發紅股。為此,已派發新股 六千四百五十八萬二千三百零六股, 而有關股票已於一九八七年六月十九日 郵寄各股東。

為派發上述紅股,股東已於同一股東 特別大會上通過決議,將本公司法定

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