IRC Limited — Audit Report / Information 2000

Nov 20, 2000

Listed Company Information

LAI SUN DEV<0488> - Results Announcement Lai Sun Development Company Limited announced on 20/11/2000: (stock code: 488) The auditors' report on the financial statements which contain the following result is modified by the Company's auditors. For more details, please refer to the press announcement to be issued by the Company on 21/11/2000. Year end date: 31/7/2000 Currency: HKD (Audited) (Audited) Last Current Corresponding Period Period from 1/8/1999 from 1/8/1998 to 31/7/2000 to 31/7/1999 ('000) ('000) Turnover : 4,659,663 1,752,093 Profit/(Loss) from Operations : (2,386,771) (6,320,695) Finance cost : (911,077) (371,378) Share of Profit/(Loss) of Associates : (189,561) (305,396) Share of Profit/(Loss) of Jointly Controlled Entities : (36,790) (710) Profit/(Loss) after Tax & MI : (2,757,982) (6,832,423) % Change over Last Period : N/A EPS/(LPS)-Basic : ($0.77) ($2.26) -Diluted : N/A N/A Extraordinary (ETD) Gain/(Loss) : Nil Nil Profit/(Loss) after ETD Items : (2,757,982) (6,832,423) Final Dividend per Share : Nil Nil (Specify if with other options) : N/A N/A B/C Dates for Final Dividend : N/A Payable Date : N/A B/C Dates for (-) General Meeting : N/A Other Distribution for Current Period : N/A B/C Dates for Other Distribution : N/A Remarks: 1. Comparative Amounts The presentation and classification of items in the financial statements have been changed due to the adoption of new Statements of Standard Accounting Practice during the current year. Accordingly, certain comparative amounts have been reclassified to conform with the current year's presentation. 2. Loss per share The calculations of basic loss per share are based on: 2000 1999 HK$'000 HK$'000 Loss used in basic loss per share calculation (2,757,982) (6,832,423) ========================== '000 '000 Weighted average number of ordinary shares in issue during year used in basic loss per share calculation 3,588,502 3,016,739 ========================= The weighted average number of ordinary shares of the Company in issue during 1999 was arrived at by adjusting the number of ordinary shares in issue prior to the rights issue of 3rd February, 1999 with a factor of 1.2063. The diluted loss per share for the current and prior years has not been presented because any potential shares of the Group outstanding during these years had an anti-dilutive effect on the basic loss per share for the these years.