Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.
(Incorporated in Hong Kong with limited liability under the Companies Ordinance) The holding company of Dah Sing Bank, Limited and MEVAS Bank Limited (Stock Code: 2356)
Scrip Dividend Scheme in relation to the Final Dividend for the year ended 31 December 2011
On 21 March 2012, it was announced that the Board recommended
the payment of Final Dividend with an option to receive newly
issued and fully paid shares in lieu of cash dividend to
Shareholders whose names appeared on the register of members
of the Company as at the close of business on
4 June 2012. The Final Dividend has been approved by the
Shareholders at the Annual General
Meeting.
This announcement is to advise Shareholders as to (a) how the
scrip dividend entitlements are calculated; (b) details with
respect to the election for Scrip Shares; (c) the despatch of
the Circular containing details of the Scrip Dividend Scheme
and the relevant Form of Election on or about Friday,
8 June 2012; and (d) the despatch of dividend warrants and/or
share certificates for the Scrip Shares
on or about Thursday, 5 July 2012.
On 21 March 2012, it was announced that the board of
directors (the "Board") of the Dah Sing Banking Group Limited
(the "Company") recommended the payment of a final dividend
(the "Final Dividend") of HK$0.20 per share of the Company
(the "Share") for the year ended 31 December
2011 with an option to receive newly issued and fully-paid
shares (the "Scrip Share(s)") in lieu of cash dividend in
respect of the then Shareholders' shareholding held in the
Company (the "Scrip Dividend Scheme"), payable to
shareholders of the Company (the "Shareholders") whose names
appeared on the register of members of the Company as at the
close of business on 4 June 2012 (the "Record Date").
The market value for calculating the number of Scrip Shares to be allotted to Shareholders pursuant to the Scrip Dividend Scheme was HK$6.75 per Share, being the average of the closing prices of the Shares quoted on The Stock Exchange of Hong Kong Limited (the "Stock Exchange") for the five (5) consecutive trading days ended on 4 June 2012.
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CALCULATION OF THE NUMBER OF SCRIP SHARES
The number of Scrip Shares which the Shareholders will
receive in respect of their shareholding as at
4 June 2012 under the Scrip Dividend Scheme will be
calculated as follows:
Number of Scrip Shares
to be received =
Number of existing Shares
held on the Record Date x
HK$0.20
HK$6.75
The Scrip Shares to be issued will rank pari passu in all
respects with the existing issued Shares, except that they
will not rank for the Final Dividend. The number of Scrip
Shares to be allotted to each Shareholder will be rounded
down to the nearest whole number. Fractional entitlements to
the Scrip Shares will not be allotted but will be aggregated
and sold for the benefit of the Company.
Certain overseas Shareholders may not be permitted to participate in the Scrip Dividend Scheme and accordingly they will receive the Final Dividend wholly in cash. No Form of Election (as defined below) will be sent to such overseas Shareholders. Details regarding participation of overseas Shareholders in the Scrip Dividend Scheme will be disclosed in the Circular (as defined below) to be published in due course.
DESPATCH OF CIRCULARS AND FORM OF ELECTION
A circular (the "Circular") containing details of the Scrip
Dividend Scheme together with the relevant form of election
("Form of Election") will be sent to the Shareholders on or
about Friday, 8 June 2012. Shareholders who wish to elect to
receive the Final Dividend wholly in Scrip Shares or partly
in cash and partly in Scrip Shares instead of wholly in cash
in lieu of cash dividend for the Final Dividend should
complete and sign the Form of Election in accordance with the
instructions printed thereon and return it to the share
registrar of the Company, Computershare Hong Kong Investor
Services Limited of Shops 1712-1716, 17th Floor, Hopewell
Centre, 183 Queen's Road East, Hong Kong not later than 4:30
p.m. on Friday, 29 June 2012.
The closing time for the return of the Form of Election will
be extended, as the case may be, in accordance with (a) or
(b) below if there is a tropical cyclone warning signal
number 8 or above, or a "black" rainstorm warning:
(a) in force in Hong Kong at any time before 12:00 noon on
Friday, 29 June 2012. The closing time for the return of the
Form of Election will be extended to 5:00 p.m. on the same
business day; or
(b) in force in Hong Kong at any time between 12:00 noon and
4:30 p.m. on Friday, 29 June
2012. The closing time for the return of the Form of Election
will be extended to 4:30 p.m. on the next business day where
none of the above warnings is in force at any time
between
9:00 a.m. and 4:30 p.m.
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GENERAL INFORMATION
The Scrip Dividend Scheme is conditional upon listing
approval being granted by the Listing Committee of the Stock
Exchange in respect of the Scrip Shares to be issued pursuant
thereto. Application will be made to the Stock Exchange for
the listing of, and permission to deal in, the Scrip Shares.
It is expected that cheques for cash entitlements, the
relevant dividend warrants and/or share certificates for the
Scrip Shares will be sent to the Shareholders by ordinary
post at the risk of those entitled thereto, or in case of
cheques in accordance with standing instructions (if any), on
or about Thursday, 5 July 2012 and dealings of the Scrip
Shares will commence on Tuesday, 10 July 2012.
By Order of the Board
Company Secretary
Hong Kong, 4 June 2012
As at the date of this announcement, the Board of the Company comprises Messrs. David Shou-Yeh Wong (Chairman), Hon-Hing Wong (Derek Wong) (Vice Chairman), Harold Tsu-Hing Wong (Managing Director and Chief Executive), Gary Pak-Ling Wang and Lung-Man Chiu (John Chiu) as Executive Directors; Mr. Kazutake Kobayashi as Non-executive Director; Messrs. Robert Tsai-To Sze, Andrew Kwan-Yuen Leung, Seng-Lee Chan and Yuen-Tin Ng as Independent Non-executive Directors.
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