DORSETT HOSPITALITY INTERNATIONAL LTD 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 the Cayman Islands with limited liability) Website : http://www.dorsett.com
(Stock Code: 2266) INTERIM DIVIDEND FOR THE SIX MONTHS ENDED 30 SEPTEMBER 2014
On 25 November 2014, the Board resolved to declare an Interim Dividend for the six months ended 30 September 2014 of HK2 cents per Share in the form of scrip dividend with the option to receive cash in lieu of all or part of the scrip dividend entitlements. The scrip price has been fixed at HK$1.332 per Share, being the Average Closing Price up to and including 17 December 2014.
Reference is made to the interim results announcement of Dorsett Hospitality International Limited (the "Company") for the six months ended 30 September 2014 dated 25 November 2014. The board of directors (the "Board") of the Company resolved to declare an interim dividend of HK2 cents per ordinary share of HK$0.10 each (the "Share") for the six months ended 30 September 2014 (the "Interim Dividend") to shareholders of the Company (the "Shareholders") whose names appeared on the register of members of the Company on 17 December 2014 (the "Record Date") in the form of new fully paid Shares (the "Scrip Shares") with the Shareholders being given the option to receive cash in lieu of all or part of their scrip dividend entitlements (the "Scrip Dividend Scheme").
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The number of the Scrip Shares to be allotted to the Shareholders pursuant to the Scrip Dividend Scheme was calculated by reference to the market value of HK$1.332 per Share which was the average of the closing prices per Share (the "Average Closing Price") as quoted on The Stock Exchange of Hong Kong Limited (the "Stock Exchange") for the five consecutive trading days up to and including 17 December
2014. Accordingly, the number of the Scrip Shares which the Shareholders are entitled to receive in respect of the existing Shares registered under their names as
at the Record Date will be calculated as follows:
Number of the Scrip
Shares that
Shareholders are
entitled to receive
Number of existing
Shares held on the
Record Date or number
= of Shares elected for the
Scrip Shares (as applicable)
HK$0.02 (Interim
Dividend per Share)
x
HK$1.332 (Average
Closing Price)
The number of the Scrip Shares to be issued to each Shareholder will be rounded down to the nearest whole number. Fractional entitlements to the Scrip Shares will be disregarded and the benefit thereof will accrue to the Company. The Scrip Shares to be issued pursuant to the Scrip Dividend Scheme will rank pari passu in all respects with the existing Shares except that they will not be entitled to the Interim Dividend.
Based on 2,099,628,550 Shares in issue on the Record Date, if all the Shareholders choose to receive Scrip Shares instead of cash in respect of the Interim Dividend, the Company will issue approximately 31,525,954 Scrip Shares, an increase of approximately 1.50% of the existing issued share capital of the Company.
The Shareholders who wish to receive the Interim Dividend wholly in cash, or partly in cash and partly in the form of the Scrip Shares are reminded that a form of election (the "Form of Election") (if applicable) as attached to a circular to be issued by the Company describing the details of the Scrip Dividend Scheme (the "Circular") must be completed, signed, dated and returned to the Company's branch share registrar and transfer office in Hong Kong, Tricor Investor Services Limited at Level 22, Hopewell Centre, 183 Queen's Road East, Wan Chai, Hong Kong, not later than 4:30 p.m. on Thursday, 12 February 2015.
Failure to complete and return the Form of Election in accordance with the instructions printed thereon will result in the relevant Shareholder 's Interim Dividend being paid wholly in the form of the Scrip Shares.
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If there is a tropical cyclone warning signal number 8 or above, or a "black" rainstorm warning (either one of the warnings is referred to as the "Warning"), the above deadline for submission of the Forms of Election will be changed as follows:
(a) If the Warning is in force in Hong Kong at any local time before 12:00 noon and no longer in force after 12:00 noon on Thursday, 12 February 2015, the deadline for submission of the Forms of Election will be 5:00 p.m. on Thursday, 12
February 2015.
(b) If the Warning is in force in Hong Kong at any local time between 12:00 noon and 4:30 p.m. on Thursday, 12 February 2015, the deadline for submission of the Forms of Election will be rescheduled to 4:30 p.m. on the next business day which does not have any Warning in force at any time between 9:00 a.m. and
4:30 p.m.
The issue of the Scrip Shares pursuant to the Scrip Dividend Scheme is conditional upon the Listing Committee of the Stock Exchange granting the listing of, and permission to deal in, the Scrip Shares to be allotted and issued pursuant to the Scrip Dividend Scheme. The Company will make the said listing application to the Stock Exchange.
The Circular together with the Form of Election (if applicable) will be despatched to the Shareholders on or about Monday, 26 January 2015.
It is expected that the relevant dividend warrants and share certificates will be sent by ordinary post to the Shareholders at their risk on or about Tuesday, 3 March 2015.
Hong Kong, 17 December 2014
President and Executive Director
As at the date of this announcement, the executive directors of the Company are Ms. CHIU, Wing Kwan Winnie and Mr. LAI, Wai Keung. The non-executive directors of the Company are Tan Sri Dato' CHIU, David, Mr. HOONG, Cheong Thard and Mr. CHAN, Chi Hing. The independent non-executive directors of the Company are Mr. SHEK, Lai Him Abraham, G.B.S., J.P., Mr. TO, Peter, Dr. LIU, Ngai Wing and Mr. ANGELINI, Giovanni.
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