Suncorp Technologies Limited — Interim / Quarterly Report 2000

Aug 31, 2000

Listed Company Information

DVN (HOLDINGS)<0500> - Results Announcement DVN (Holdings) Limited announced on 31/8/2000: (stock code: 500) Year end date: 31/12/2000 Currency: HKD (Unaudited) (Unaudited) Last Current Corresponding Period Period from 1/1/2000 from 1/1/1999 to 30/6/2000 to 30/6/1999 ('000) ('000) Turnover : 31,558 271,984 Profit/(Loss) from Operations : (23,450) (347,984) Finance cost : (74) (24) Share of Profit/(Loss) of Associated Companies : (8,818) (34,040) Share of Profit/(Loss) of Jointly Controlled Entities : N/A N/A Profit/(Loss) after Tax & MI : (29,636) (382,048) % Change over Last Period : N/A EPS/(LPS)-Basic : ($0.13) ($2.29) -Diluted : N/A N/A Extraordinary (ETD) Gain/(Loss) : 0 - Profit/(Loss) after ETD Items : (29,636) (382,048) Interim Dividend per Share : NIL NIL (Specify if with other options) : N/A N/A B/C Dates for Interim 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. Certain comparative amounts have been reclassified to conform to current period's presentation. 2. Loss per share Calculation of the basic loss per share is based on the Group's net loss attributable to shareholders after provision for preference share dividends of HK$33,238,000 (1999: HK$385,087,000) and on the weighted average number of 259,202,064 (1999: 168,035,390) ordinary shares in issue during the period. No diluted loss per share is shown for the period ended June 30, 2000 because the share options and convertible preference shares outstanding during the period had an anti-dilutive effect on the basic loss per share. 3. Preference share dividends Pursuant to section 54 of the Companies Act 1981 of Bermuda ("Act"), a company incorporated in Bermuda is not permitted to pay dividends while there are reasonable grounds for believing that the company is, or would after the payment be, unable to pay its liabilities as they become due; or the realisable value of the company's assets would thereby be less than the aggregate of its liabilities and its issued share capital and share premium account. Preference shares dividends accrued at the fixed rate of 5% per annum pursuant to the terms of the preference shares for the period ended June 30, 2000 amounted to HK$1,775,000 (1999: HK$3,039,000). The preference shares dividends will only be paid upon fulfillment of the aforementioned conditions of the Act. An amount of $1,079,000 (1999: Nil) dividends was written back upon conversion of these preference shares during the period. Preference share dividends also include dividends in preference shares issued by a wholly owned subsidiary of the Company, DVB (Group) Limited, of HK$2,906,000 (1999: Nil). 4. Interim dividend No interim dividend has been declared during the period ended June 30, 2000. 5. Operating loss for the period is arrived at after including loss on disposal of short-term investment of HK$4,675,000. Operating loss for last period was arrived at after including loss on divestment of associates and reclassification of interests in associates to short-term investment of HK$342,498,000.