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    Shareholders holding at least 5% votes at GM

    Peixin International Group NV post-IPO shareholders structure

    ★ The sole shareholder of Xinsheng Investment Holding Ltd is Mr Zhang Pan (Macau Resident)
    ★ The sole shareholder of Jinyuan Investment Holding Ltd is Mr Li Meiqing (Hongkong Resident)
    ★ The sole shareholder of Best Fortune Enterprises Limited is Mr Johnny Chen (the United States Resident)


    Shares held by members of the Company authorities


    name

    Position within the Company

    Number of shares

    Number of
    votes

    % in GM

    Mr Qiulin Xie

    Chief Executive Officer

    10,500,000

    10,500,000

    80,77%


    Capital structure
    Issued share capital: EUR 13,000,000
    Number of shares: 13,000,00
    Nominal value: EUR 1 each share
    The Company has an authorised share capital of EUR 50,000,000 consisting of 50,000,000 ordinary shares with a nominal value of EUR 1 each.

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    Dividend policy


    The declaration and payment of future dividends will depend on the Group's operating results, financial condition, other cash requirements including capital expenditure, the terms of borrowing arrangements (if any) and other factors deemed relevant by the members of the Management Board.


    Final dividends paid by the Company must be approved by an ordinary resolution of the Company's shareholders at a general meeting and must not exceed the amount recommended by the members of the Management Board.


    The members of the Management Board may, without the approval of the Company's shareholders, also declare an interim dividend. The Group must pay all dividends out of profits.

    The Company has not declared or paid any dividends since its establishment in 2013.


    Future dividend payments will also depend on the availability of dividends from the Group’s operating subsidiaries in the People’s Republic of China. People’s Republic of China law requires that dividends be paid only out of a company’s net profit calculated according to People’s Republic of China accounting principles, which differ in certain respects from IFRS. Under the Company Law of the People’s Republic of China and other relevant People’s Republic of China laws, a foreign-invested enterprise is also required to transfer at least 10% of its net profit (after offsetting any prior years’ losses) to a statutory reserve until the balance of that reserve reaches 50% of the registered capital of the enterprise. The transfer by the entity to its reserve must be made before the distribution of dividends to its equity holders. Distributions from the Group’s People’s Republic of China operating subsidiaries may also be restricted:


    ★ if they incur losses or


    ★ in accordance with any restrictive covenants in bank credit facilities, convertible bond instruments or other agreements that the Group or its People’s Republic of China operating subsidiaries may enter into in the future.


    The Management Board intends for the Company not to pay the dividend in 2013 from net profit for 2012 due to the current and planned investment needs. Subject to provision of law and financial conditions and depending on the Group’s investment plan, the Management Board intends for the Company to distribute the following dividend levels in the following years:


    ★ 10% of the distributable net profit for 2013


    ★ 10-30% of the distributable net profit for 2014 and 2015


    ★ up to 50% - of the distributable net profit for 2016 and later


    The dividend policy will be reviewed from time to time and payment of any future dividends will be effectively made at the discretion of the Management Board and the Shareholders’ Meeting after taking into account the Company’s earnings, cash flow, financial condition, capital investment requirements and other factors.

     
     
     
     
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