The scheme of profit distribution of Sinochem International in 1999 has got discussed and passed at the 1999 annual meeting of shareholders held on Jun. 20th, 2000. hereby we report on details of bonus and dividends distribution as follows:
1. the scheme of dividend distribution:
Through the auditing by Zhongqing Accounting Firm, our company recorded 117,758,570.18 yuans of net profits, 10% of which, that is 11,775,857.02 yuans, is legal reserved fund, another 10% of which, 11,775,857.02 yuans, is legal public welfare fund, and 94,206,856.14 yuans of distributive profits. This annual ownership registration in assigned Security Exchange. Bonus of investors who hasn t done full assigned business is temporarily trusted by Chinaclear Co. Ltd. in Shanghai, and is available to draw from assigned Security Exchanged after the investor has done full assigned business.
2) the bonus for legal initiators is directly issued by our company. We will contact witscheme of bonus and dividends distribution is: to offer each shareholder 0.5 yuan RMB(including tax) for each 10 shares, on the basis of aggregate shares by the year of 1999, which is 372,650,000. With tax cut, each shareholder actually got 0.4 yuan of cash bonus for each 10 shares. And 75,574,356.14 yuans of retained earnings is wait to be distributed next accounting year.
2. date for stock ownership registration and ex-dividend.
date for stock ownership registration Jul.28th, 2000
date for ex-dividend: Jul 31st,2000
3. dividend receivers:
All the tradable shareholders who have made registration in Chinaclear Co. Ltd. in Shanghai by the afternoon on Jul 28th, 2000, when SSE finished trade.
4. way of distribution:
1) Our company has transferred the bonus for social shareholders and commission for agents into the account assigned by Chinaclear Co. Ltd. in Shanghai, who will transfer the bonus into the account of each Security Clear on the first business day after the day for stock ownership registration (the day for ex-dividend) through clearing system. And then each Security timely transfers bonus into the account of shareholders, so that they can be able to draw cash dividends on the 2nd day after the day for stock ownership registration in assigned Security Exchange. Bonus of investors who hasn't done full assigned business is temporarily trusted by Chinaclear Co. Ltd. in Shanghai, and is available to draw from assigned Security Exchanged after the investor has done full assigned business.
2) the bonus for legal initiators is directly issued by our company. We will contact with them through letters to let them informed about the matters concerned from Jul.20th.
5. other matters concerned:
consulting agency: the Investment Dep. of Sinochem International
company address: 9th floor of Sinochem International Building, A2# on the avenue outside the Fuxing door, Beijing.
Tel: 010-68569887, 68569885
Fax: 010-68569885,68568569
Sinochem International
Jul.24th, 2000
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