Creative 2001 Annual Report Download - page 25

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25
NOTE 6 – SHARE REPURCHASES
Details of Share repurchases by Creative during the fiscal years since the commencement of the program on November
6, 1998 are set out below:
Years ended June 30, Number of Shares Repurchased Average Price
(in millions) (US$)
1999 10.0 $ 14
2000 5.9 $ 17
2001 7.7 $ 12
Total 23.6 $ 14
At the 2000 Annual General Meeting (“AGM”) held on November 8, 2000, the shareholders approved the share
repurchase mandate allowing Creative to buy up to 10% of the issued share capital of Creative as at the date of the
AGM. This amounts to approximately 7.9 million shares. This authority to repurchase shares shall continue in force
unless revoked or revised by the shareholders in a general meeting, or until the date that the next AGM of Creative
is held or is required to be held, whichever is the earlier.
In accordance with Singapore statutes, such repurchases are recorded as a reduction in retained earnings.
NOTE 7 – DIVIDENDS
At the Annual General Meeting held on November 8, 2000, Creative’s shareholders approved an ordinary dividend
of $0.25 and a special dividend of $0.25 for each outstanding ordinary share of Creative for the fiscal year ending
June 30, 2001. Dividends of $39.4 million were paid on December 15, 2000 to all shareholders of record as of
November 29, 2000. Creative paid an ordinary dividend of $0.25 per ordinary share in the previous fiscal year.