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Investor Presentaiton

HKAS 1.51(a) HKAS 1.49 HK Listco Ltd A16(10)(4) R10.06(4)(b) Financial statements for the year ended 31 December 2023 (iii) Purchase of own shares During the year, the company repurchased its own ordinary shares on The Stock Exchange of Hong Kong Limited as follows: Month/year February 2023 May 2023 Number of shares repurchased Highest price paid Lowest price paid Aggregate price per share per share paid $ $ $'000 300,000 200,000 6.85 6.80 6.75 2,040 6.70 1,350 3,390 A16(10)(2) HKAS 1.79(b) The repurchase was governed by section 257 of the Hong Kong Companies Ordinance. The total amount paid on the repurchased shares of $3,390,000 was paid wholly out of retained profits.260 (iv) Shares issued under share option scheme On 1 February 2023, options were exercised to subscribe for 1,000,000 ordinary shares in the company at a consideration of $6,000,000, all of which was credited to share capital. $400,000 was transferred from the capital reserve to the share capital account in accordance with policy set out in note 1(x)(iii). (d) Nature and purpose of reserves (i) Capital reserve The capital reserve comprises the following: the portion of the grant date fair value of unexercised share options granted to employees of the company that has been recognised in accordance with the accounting policy adopted for share- based payments in note 1(x)(iii); and the amount allocated to the unexercised equity component of convertible notes issued by the company recognised in accordance with the accounting policy adopted for convertible notes in note 1(w)(i). (ii) Exchange reserve The exchange reserve comprises all foreign exchange differences arising from the translation of the financial statements of foreign operations as well as the effective portion of any foreign exchange differences arising from hedges of the net investment in these foreign operations. The reserve is dealt with in accordance with the accounting policies set out in notes 1(i)(ii) and 1(bb). 260 When a company repurchases the shares out of distributable profits under section 257 of the CO, it should record the debit entry to its "retained profits" and reduce the number of shares in issue for the shares cancelled under section 269 of the CO. For overseas incorporated companies, the relevant overseas legislation in relation to repurchase of shares would need to be followed. 164 © 2023 KPMG, a Hong Kong partnership and a member firm of the KPMG global organisation of independent member firms affiliated with KPMG International Limited ("KPMG International"), a private English company limited by guarantee. All rights reserved.
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