This printed article is located at http://qianhu.listedcompany.com/news.html

News

Annual Report For The Financial Year Ended 31 December 2002 ("Annual Report")

BackMar 21, 2003

With reference to the Annual Report, the Company is pleased to provide the following information in relation to:

Guidance Note 9.4
As disclosed on pages 93 to 96 of the Annual Report, the share options were granted under the Qian Hu Pre-IPO Employees' Share Option Scheme and the Qian Hu Post-IPO Employees' Share Option Scheme. The objectives and the basis of the terms adopted for these options have been disclosed in our IPO Prospectus dated 28 October 2000 and our Circular to shareholders dated 4 February 2002. The fair value of these options granted at the date of the grant is estimated using the Black-Scholes Option Pricing Model.

As disclosed on page 84 of the Annual Report, during the financial year, the Company issued 1,896,000 ordinary shares of $0.10 each at $0.24 per share for cash upon the exercise of share options granted. The market prices of the shares on the dates of exercise of the options ranged from $0.32 to $0.83.


Rule 1207(6)(b)
As mentioned on page 38 of the Annual Report, the Audit Committee reviews the adequacy of audit arrangements, with particular emphasis on the scope and quality of their audits, the independence and objectivity of the external auditors. The Audit Committee has reviewed the non-audit services provided by the external auditors, which comprise tax services, and is satisfied with the independence of the external auditors.



Please read our General Disclaimer & Warning carefully.
Use of this Website constitutes acceptance of the Terms of Website Use.
Copyright © 2024. ListedCompany.com. All Rights Reserved.