Annual Report - QuamIR

Report of the Directors
The directors of the Company (the “Directors” or the “Board”) have pleasure
in presenting to shareholders their report together with the audited financial
statements of the Company and its subsidiaries (collectively the “Group”) for
the year ended 31 December 2011.
Principal Activities and Geographical Analysis of
Operations
The principal activities of the Group are property investment and
development, infrastructure, construction and engineering and alternative
energy business. The activities of its principal subsidiaries, associates and
jointly controlled entities are set out in pages 184 to 192 of the consolidated
financial statements.
The Group’s construction and engineering business has been discontinued
since the end of 2011.
An analysis of the Group’s performance for the year ended 31 December
2011 by geographical and business segments is set out in note 5 to the
consolidated financial statements.
Results and Appropriations
The results of the Group for the year ended 31 December 2011 are set out in
the consolidated income statement on page 70.
The Board of Directors has recommended the payment of a second special
dividend of HK1 cent per share. Together with the first special dividend of
HK1 cent which was declared at the interim and paid in November 2011, the
total special dividends for the year will be HK2 cents per share (2010: Nil).
The proposed second special dividend, if approved at the forthcoming annual
general meeting of the Company (the “AGM”), will be payable in cash, with
an option to receive new and fully paid shares in lieu of cash under the scrip
dividend scheme (the “Scrip Dividend Scheme”). The new shares will, on
issue, not be entitled to the proposed second special dividend, but will rank
pari passu in all other respects with the existing shares. A circular containing
details of the Scrip Dividend Scheme and the relevant election form are
expected to be sent to the shareholders of the Company (the “Shareholders”)
on or about Thursday, 21 June 2012.
The Scrip Dividend Scheme is conditional upon the passing of the resolution
relating to the proposed payment of second special dividend at the AGM and
the Listing Committee of The Stock Exchange of Hong Kong Limited (the
“Stock Exchange”) granting the listing of and permission to deal in the new
shares to be issued under the Scrip Dividend Scheme. The proposed second
special dividend will be distributed, and the share certificates issued under
the Scrip Dividend Scheme will be sent on or about Thursday, 19 July 2012
to the Shareholders whose names appear on the register of members of the
Company on Friday, 15 June 2012.
The Directors do not recommend the payment of a final dividend for the year
ended 31 December 2011 (2010: Nil).
184192
5
70
1
12
32 HKC (Holdings) Limited • Annual Report 2011