Smart-Core Holdings Limited — Earnings Release 2001

Apr 19, 2002

Listed Company Information

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.