UOB Annual Report 2002 - United Overseas Bank

In addition, the following subsidiaries were also placed into members’ voluntary liquidation and liquidation was completed
during the financial year:
Group’s Share
Group’s Share
of Net Tangible Group’s of the
Assets at Date Effective Liquidation
of Liquidation Interest Proceeds
$’000 % $’000
OUB Australia Nominees Pty Ltd 16 100 16
OUB (Australia) Securities Pty Ltd 201 100 201
OUB Finance (H.K.) Limited 5,743 100 5,743
Overseas Union Bank Nominees (U.K.) Limited 1 100 1
Overseas Union Facilities (H.K.) Ltd 466 100 466
Tye Hua Investments Pte Ltd 942,600 100 942,600
(d)
Disposal of a Subsidiary
During the financial year, the Group disposed of Overseas Union Facilities Sdn Bhd (“OUFSB”), a wholly-owned subsidiary, for a
consideration of $1,596. The Group’s share of the net assets of OUFSB was nil.
Results for the Financial Year
The Group
$'000
The Bank
$'000
Profit after tax 1,093,844 1,432,026
Minority interests (29,644) –
Net profit attributable to members 1,064,200 1,432,026
Material Transfers to or from Reserves and Provisions
Material movements in reserves and provisions are set out in the notes to the financial statements.
Issue of Shares and Debentures
(a) During the financial year, the Bank issued 494,000 ordinary shares of $1 each to option holders who exercised their rights in
connection with the UOB Executives’ Share Option Scheme and the UOB 1999 Share Option Scheme as follows:
Subscription Price
Per Share, Paid in Cash
$
Number of Ordinary Shares
of $1 Each in the Bank
8.25 109,000
3.14 39,000
14.70 28,000
12.90 318,000
494,000
All newly issued shares rank pari passu in all respects with the previously issued shares.
UNITED OVERSEAS BANK 79