UNITY INV HOLD<00913> - Results Announcement (Summary)
Unity Investments Holdings Limited announced on 19/4/2002:
(stock code: 913)
Year end date: 31/12/2001
Currency: HKD
Auditors' Report: Neither
Review of Interim Report by: N/A
(Audited)
(Audited) Last
Current Corresponding
Period Period
from 1/1/2001 from 1/1/2000
to 31/12/2001 to 31/12/2000
Turnover : 46,446,974 34,058,900
Profit/(Loss) from Operations : 1,105,058 6,317,176
Finance cost : - -
Share of Profit/(Loss) of Associates : - -
Share of Profit/(Loss) of
Jointly Controlled Entities : - -
Profit/(Loss) after Tax & MI : 1,114,065 6,182,847
% Change over Last Period : -82%
EPS/(LPS)-Basic : 1.11 cents 6.18 cents
-Diluted : 1.11 cents 6.13 cents
Extraordinary (ETD) Gain/(Loss) : - -
Profit/(Loss) after ETD Items : 1,114,065 6,182,847
Final Dividend per Share : 1 cent 1 cent
(Specify if with other options) : - -
B/C Dates for Final Dividend : 17/5/2002 to 24/5/2002 bdi.
Payable Date : on or before 8/6/2002
B/C Dates for (-) General Meeting : -
Other Distribution for Current Period : One bonus ordinary share for
each ordinary share
B/C Dates for Other Distribution : 17/5/2002 to 24/5/2002 bdi.
Remarks:
(1) The Group is principally engaged in the investment in listed and
unlisted companies. Revenues of the Group recognized during the year are
as follows:
Year ended 31st December
2001 2000
HKD HKD
Turnover
Proceeds from sale of trading securities 46,446,974 34,058,900
Other revenues ----------------------
Interest income 2,807,827 4,808,964
Dividend income 582,960 570,000
-----------------------
3,390,787 5,378,964
------------------------
Total revenues 49,837,761 39,437,864
========================
(2)
Year ended
31st December
2001 2000
HKD HKD
Turnover(1)
Proceeds from sale of trading securities 46,446,974 34,058,900
Cost of sales (42,215,052) (29,613,827)
-------------- ----------------
Realised gain on sale of trading securities 4,231,922 4,445,073
Unrealised holding gain on trading securities 1,231,144 2,558,400
Other revenues(1) 3,390,787 5,378,964
Administrative expenses (7,748,795) (6,064,721)
------------ -------------
Profit before taxation(3) 1,105,058 6,317,716
Taxation(4) 9,007 (134,869)
----------- ------------
Profit attributable to shareholders
1,114,065 6,182,847
======== ========
Dividend 1,000,000 1,000,000
======= ========
(3) Profit before taxation is stated after charging depreciation of
HKD343,014 (2000: HKD190,693).
(4) Hong Kong profits tax has not been provided for in the accounts as
the Group has no estimated assessable profit during the year. Hong Kong
profits tax has been provided at the rate of 16% on the estimated
assessable profit during the year ended 31st December 2000.
(5) The calculation of basic and diluted earnings per share are based
on the Group's profit attributable to shareholders of HKD1,114,065 (2000:
HKD6,182,847). The basic earnings per share is based on the weighted
average of 100,000,002 (2000:100,000,002) ordinary shares in issue during
the year. The diluted earnings per share is based on 100,672,058 (2000:
100,943,047) ordinary shares which is the weighted average number of
ordinary shares in issue during the year plus the weighted average of
672,056 (2000: 943,045) ordinary shares deemed to be issued at no
consideration if all outstanding share options had been exercised.
(6) Surplus of HKD2,700,000 (2000:HKD8,100,000) on revaluation of
investment securities was recorded in the investment revaluation reserve
for the year ended 31st December 2001.
(7) The Board of Directors has also resolved to recommend a bonus issue of
shares ("Bonus Share Issue") of one bonus ordinary share ("bonus share")
for each ordinary share held by the holders of ordinary shares in the
Company whose names appear on the Company's Register of Members at the
close of business on 24th May 2002, other than those shareholders whose
addresses as shown on the Company's Register of Members on 24th May 2002
are outside Hong Kong ("Overseas Shareholders") provided that arrangements
will be made for the bonus shares which would otherwise have been issued
to the Overseas Shareholders to be sold in the market as soon as
practicable after dealings commence, if a premium, net of expenses, can be
obtained. Any net proceeds of sale, after deduction of expenses, of
HKD100 or more will be distributed in Hong Kong dollars to the Overseas
Shareholders pro rata to their respective entitlements and will be posted
to them at their own risk. Any amount falling to be distributed to any
shareholders of the Company being less than HKD100 will be retained for
the benefit of the Company. The bonus shares proposed to be issued will
rank in all respects pari passu with the issued shares in the Company as
at the date of issuing such bonus shares but the bonus shares will not be
eligible for the final dividend in cash for 2001.
For the purpose of the proposal on issuance of bonus shares mentioned
above, the Board of Directors proposes to increase the authorized share
capital of the Company from HKD20,000,000 divided into 200,000,000
ordinary shares of HKD0.10 each to HKD40,000,000 divided into 400,000,000
ordinary shares of HKD0.10 each. An extraordinary general meeting will be
held on Friday, 24th May 2002 immediately after the forthcoming Annual
General Meeting to approve, inter alia, the Bonus Share Issue and the
increase in authorized share capital of the Company. Details thereof will
be set out in a circular to be dispatched to the holders of ordinary
shares in the Company.
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