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A N N U A L R E P O R T 2 0 1 6
ADDENDUM
Where the Company chooses not to hold the purchased Shares as treasury shares, such Shares shall be cancelled. The Company shall:-
(i)
reduce the amount of its share capital where the Shares were purchased or acquired out of the capital of the Company;
(ii)
reduce the amount of its profits where the Shares were purchased or acquired out of the profits of the Company; or
(iii)
reduce the amount of its share capital and profits proportionately where the Shares were purchased or acquired out of both the
capital and the profits of the Company,
by the total amount of the purchase price paid by the Company for the Shares cancelled.
Where the Company chooses to hold the purchased Shares as treasury shares, the total number of issued Shares of the Company will
remain unchanged.
The financial effects on the Company and the Group, based on the audited financial statements of the Company and the Group for the
financial year ended 31 March 2016, are based on the following principal assumptions:
(a)
the acquisition of Shares pursuant to the Share Buy-back Mandate had taken place on 1 April 2015 for the purpose of computing the
financial effects on the EPS of the Group and the Company;
(b)
the maximum number of Shares that can be bought back without adversely affecting the 10% public float requirement is 6,637,367;
(c)
the acquisition of Shares pursuant to the Share Buy-back Mandate had taken place on 31 March 2016 for the purpose of computing
the financial effects on the shareholders¡¯ equity, NTA per Share and gearing of the Group and the Company; and
(d)
transaction costs incurred for the acquisition of Shares pursuant to the Share Buy-back Mandate are assumed to be insignificant and
have been ignored for the purpose of computing the financial effects.
