New World Development Company Limited
92
Report of the Directors
Connected Transactions
(continued)
The price and terms of the continuing connected transactions mentioned in paragraphs (3) to (9) and (11) above were determined
in accordance with the pricing policies and guidelines as set out in the relevant announcements of the Company. These continuing
connected transactions have been reviewed by the Independent Non-executive Directors of the Company who have confirmed
that the transactions have been entered into:
(a)
in the ordinary and usual course of business of the Group;
(b)
on normal commercial terms or better; and
(c)
in accordance with the relevant agreements governing them on terms that are fair and reasonable and in the interests of
the shareholders of the Company as a whole.
The Company’s auditor was engaged to report on the Group’s continuing connected transactions stated in paragraphs (3) to (9)
and (11) above in accordance with Hong Kong Standard on Assurance Engagements 3000 (Revised) “Assurance Engagements
Other Than Audits or Reviews of Historical Financial Information” and with reference to Practice Note 740 “Auditor’s Letter on
Continuing Connected Transactions under the Hong Kong Listing Rules” issued by the Hong Kong Institute of Certified Public
Accountants. The auditor has issued his unqualified letter containing his findings and conclusions in respect of the continuing
connected transactions disclosed by the Group in accordance with paragraph 14A.56 of the Listing Rules. A copy of the auditor’s
letter has been provided by the Company to the HKEx.
Save as disclosed above, a summary of significant related party transactions that did not constitute connected transactions made
during the year was disclosed in note 46 to the financial statements.
Directors’ Interests in Shares, Underlying Shares and Debentures
As at 30 June 2016, the interests of the Directors in shares, underlying shares and debentures of the Company or any of its
associated corporations which were recorded in the register required to be kept by the Company under Section 352 of the SFO
were as follows:
(A) Long Position in Shares
Number of shares
Approximate
% of
shareholding
Beneficial
interests
Spouse
interests
Corporate
interests
Total
New World Development Company Limited
(Ordinary shares)
Dr. Cheng Kar-Shun, Henry
–
600,000
–
600,000
0.01
Mr. Doo Wai-Hoi, William
– 11,353,749 98,074,684
(1)
109,428,433
1.17
Mr. Cheng Kar-Shing, Peter
–
515,439
–
515,439
0.01
Mr. Ho Hau-Hay, Hamilton
–
–
878,353
(2)
878,353
0.01
Mr. Liang Cheung-Biu, Thomas
10,429
–
–
10,429
0.00
Ms. Ki Man-Fung, Leonie
90,000
–
–
90,000
0.00
New World Department Store China Limited
(Ordinary shares of HK$0.10 each)
Ms. Ki Man-Fung, Leonie
20,000
–
–
20,000
0.00
Ms. Cheng Chi-Man, Sonia
92,000
–
–
92,000
0.01
NWS Holdings Limited
(Ordinary shares of HK$1.00 each)
Dr. Cheng Kar-Shun, Henry
18,349,571
– 12,000,000
(3)
30,349,571
0.79
Mr. Doo Wai-Hoi, William
1,266,834
–
8,330,782
(4)
9,597,616
0.25
Mr. Cheng Kar-Shing, Peter
303,966
–
6,137,504
(5)
6,441,470
0.17
Ms. Ki Man-Fung, Leonie
15,000
–
–
15,000
0.00
Sun Legend Investments Limited
(Ordinary shares)
Mr. Cheng Kar-Shing, Peter
–
–
500
(6)
500
50.00
