Cathay Pacific 1998 Annual Report Download - page 33

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Directors’ Report
31
CATHAY PACIFIC AIRWAYS LIMITED ANNUAL REPORT 1998
Neither during nor prior to the year under review, has any right been granted to, or exercised by,
any Director of Cathay Pacific Airways Limited, or to or by the spouse or minor children of any
Director, to subscribe for shares, warrants or debentures of Cathay Pacific Airways Limited.
Other than as stated above, no Director of Cathay Pacific Airways Limited held any interest,
whether beneficial or non-beneficial, in the share capital or warrants of Cathay Pacific Airways
Limited or any of its associated corporations (within the meaning of the SDI).
At no time during the year did any Director, other than as stated above, have a beneficial interest,
whether directly or indirectly, in a contract to which Cathay Pacific Airways Limited, or any of its
associated corporations, was a party which was of significance and in which the Director’s interest
was material.
At no time during the year was Cathay Pacific Airways Limited or any of its associated
corporations, a party to any arrangements to enable the Directors of the Company to acquire
benefits by means of the acquisition of shares in or debentures of the Company or any other body
corporate.
Substantial shareholders
The register of substantial shareholders maintained under section 16(1) of the SDI shows that at
31st December 1998 the Company had been notified of the following interests, being 10% or more of
the Company’s issued share capital. These interests are in addition to those disclosed above in
respect of the Directors.
Remarks
1. John Swire & Sons Limited 1,526,606,246
2. Swire Pacific Limited 1,526,606,246 ) Duplications of John Swire
3. John Swire & Sons (H.K.) Limited 1,526,606,246 ) & Sons Limited’s holding
4. CITIC Pacific Limited 859,353,462
5. Super Supreme Company Limited 787,753,462 ) Duplication of CITIC Pacific
6,226,925,662 Limited’s holding
Less: Duplications 3,840,965,954
2,385,959,708
Auditors
On 19th November 1998, the Company’s Auditors changed the name under which they practise to
KPMG and, accordingly, have signed their report in their new name. A resolution for the
reappointment of KPMG as Auditors of the Company is to be proposed at the forthcoming annual
general meeting.
By order of the Board
Peter Sutch
Chairman
Hong Kong, 10th March 1999