A total of 3,330,000 ordinary shares of HKD0.10 each in the Company were repurchased by the Company during the period at prices ranging from HKD7.93 to HKD9.85 per share. The aggregate amount paid by the Company for such repurchases amounting to USD3,870,000 was charged to the retained earnings.

The repurchased shares were cancelled and the issued share capital and the capital redemption reserve of the Company was reduced and increased respectively by the par value thereof.

The repurchase of the Company’s shares during the period were effected by the Directors pursuant to the mandate from shareholders received at the previous annual general meeting, with a view to benefiting shareholders as a whole by enhancing the net asset value per share and earnings per share of the Company.

Except as disclosed above, neither the Company nor any of its subsidiaries purchased, redeemed or sold any of the Company’s listed securities during the period.

By order of the Board
Horst Julius Pudwill
Chairman