1953_1954_1955_1956_1957_1958 — Page 63

REPORT OF THE BOARD OF DIRECTORS

for

THE YEAR ENDED 31ST DECEMBER, 1958

for

PRESENTATION TO THE SHAREHOLDERS

at the

THIRTY FIRST ORDINARY ANNUAL MEETING

to be held at the

COMPANY'S OFFICES

Jordan Road Ferry Pier

Kowloon

ON SATURDAY, 4TH APRIL, 1959

at 12.00 noon.

The Directors have pleasure in presenting their Report and audited Statement of Accounts for the Year ended 31st December, 1958.

The net profit for the Year amounts to...

to which must be added:-

Amount brought forward

:

$ 6,456,275.16

47,617.69

$ 6,503,892.85

An Interim Dividend of $3.00 per share on 504,000 shares was declared on 19th September, 1958, absorbing

and your Directors now make the following further recommendations:-

To pay Final Dividends:-

On

7,500 Preferential Shares $5.50 per share. On 496,500 Ordinary Shares $5.00 per share...

To Transfer to General Reserve

To Transfer to Taxation and Contingencies Reserve... To Transfer to Leasehold Properties Sinking Fund

To Carry Forward

:

41,250.00

2,482,500.00

:

:

:

$ 1,512,000.00

2,523,750.00

$ 4,035,750.00 1,000,000.00

780,000.00

500,000.00

188,142.85

$ 6,503,892.85

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, 27th February, 1959.

T. N. CHAU

CHAIRMAN.