28th Apr 2006 07:00
MTR Corporation Ltd28 April 2006 MTR Corporation Limited (the "Company") (Incorporated in Hong Kong with limited liability) (Stock Code: 66) FINAL DIVIDEND FOR THE YEAR ENDED 31ST DECEMBER, 2005 SCRIP DIVIDEND SCHEME 1. Formula for calculation of scrip dividend entitlements is set out below.2. Reminder of deadline for receipt of scrip dividend election forms. The Company has informed its shareholders ("Shareholders") in a document dated18th April, 2006 (the "Scrip Dividend Document") that the Board of Directors ofthe Company (the "Board") had recommended that a final dividend of HK$0.28 perordinary share of HK$1.00 each in the Company (a "Share") for the year ended31st December, 2005 (the "2005 Final Dividend") be paid to Shareholders whosenames appeared on the register of members of the Company as at the close ofbusiness on 11th April, 2006, and that qualifying Shareholders ("QualifyingShareholders") may elect to receive their dividend in the form of new Shares("New Shares") instead of the whole or part of their cash dividend. This announcement should be read in conjunction with, and is qualified by, theScrip Dividend Document. As stated in the Scrip Dividend Document, at the annual general meeting of theCompany held on 17th May, 2001, the Shareholders passed a resolution authorisingthe Board to offer Shareholders the right to choose to receive extra Sharesinstead of the whole or part of their cash dividend in respect of some or all ofthe future dividends (including any final and/or interim dividends) which may bedeclared or paid in the period up to and including the annual general meeting ofthe Company which is held in the fifth year after the passing of the resolution. As stated in the Scrip Dividend Document, subject to Shareholders' approval ofthe 2005 Final Dividend at the forthcoming annual general meeting of the Companyto be held on 8th June, 2006 (the "AGM"), a Qualifying Shareholder who electsto receive New Shares instead of some or all of his/her cash dividend will beentitled to Shares whose total Relevant Value (see below) is as near as possibleto the cash dividend he/she would have received in respect of the Shares forwhich he/she has elected to receive New Shares. The Relevant Value of a Share isthe average value of the Company's Shares for the five dealing days startingfrom, and including, 30th March, 2006 (being the day when the Shares were firstquoted ex-dividend). Shareholders are hereby informed that the Relevant Value isHK$17.79. Accordingly, the number of New Shares which a Qualifying Shareholder willreceive in respect of the existing Shares registered in his/her name on 11thApril, 2006 and for which he/she has elected to receive New Shares will becalculated as follows: Formula: Number of Number of existing Shares held on 11th April,New Shares 2006 for which scrip election is X HK$0.28to be = made for the 2005 Final Dividend -------- received HK$17.79 The number of New Shares to be received by each Qualifying Shareholder pursuantto his/her election will be rounded down to the nearest whole number of NewShares. Fractional entitlements to New Shares will be disregarded and thebenefit thereof will accrue to the Company. The New Shares issued in respect ofthe 2005 Final Dividend will, when they are issued, rank pari passu in allrespects with the existing issued Shares of the Company except that such NewShares themselves will not rank for the 2005 Final Dividend. Qualifying Shareholders who need to return a scrip dividend election form arereminded that they should return it to the Company's Registrar, ComputershareHong Kong Investor Services Limited, 46th Floor, Hopewell Centre, 183 Queen'sRoad East, Hong Kong so that it is received by the Company's Registrar not laterthan 4:00 p.m. on 18th May, 2006. The Scrip Dividend Scheme is conditional upon (i) the Shareholders passing anordinary resolution at the AGM authorising and declaring the 2005 Final Dividendand (ii) the Listing Committee of The Stock Exchange of Hong Kong Limited (the"Hong Kong Stock Exchange") granting listing of, and permission to deal in, theNew Shares to be issued in respect of the 2005 Final Dividend. Application hasbeen made to the Listing Committee of the Hong Kong Stock Exchange for listingof, and permission to deal in, the New Shares. Share certificates for the New Shares and cheques for cash entitlements will bedespatched to Shareholders at their own risk on or about 27th June, 2006. By Order of the Board Leonard Bryan Turk Secretary Hong Kong, 28th April, 2006 Members of the Board: Dr. Raymond Ch'ien Kuo-fung (Chairman)**, Chow Chung-kong(Chief Executive Officer), Professor Cheung Yau-kai*, David Gordon Eldon*,Christine Fang Meng-sang*, Edward Ho Sing-tin*, Lo Chung-hing*, T. BrianStevenson*, Frederick Ma Si-hang (Secretary for Financial Services and theTreasury)**, Secretary for the Environment, Transport and Works (Dr. Sarah LiaoSau-tung)** and Commissioner for Transport (Alan Wong Chi-kong)** Members of the Executive Directorate: Chow Chung-kong, Russell John Black,William Chan Fu-keung, Thomas Ho Hang-kwong, Lincoln Leong Kwok-kuen, FrancoisLung Ka-kui, Andrew McCusker and Leonard Bryan Turk * independent non-executive Directors ** non-executive Directors This announcement is made in English and Chinese. In the case of anyinconsistency, the English version shall prevail. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
MTR.L