Creative 2002 Annual Report Download - page 36

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34
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
NOTE 5 – COMPREHENSIVE INCOME
The components of total comprehensive income are as follows (in US$’000):
Years ended June 30
2002 2001 2000
Net (loss) income $ (19,727) $ (130,373) $ 161,012
Movement in unrealized holding gains (losses) 15,042 (26,899) 169,357
Reclassification adjustments:
– Gains (losses) included in net (loss) income (16,655) (124,800) (10,814)
(1,613) (151,699) 158,543
Total comprehensive (loss) income $ (21,340) $ (282,072) $ 319,555
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
2002 2.7 $ 7
Total 26.3 $ 13
At the 2001 Annual General Meeting (“AGM”) held on October 31, 2001, 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 7.2 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 October 31, 2001, Creative’s shareholders approved an ordinary dividend of $0.25
for each outstanding ordinary share of Creative for the fiscal year ending June 30, 2002. Dividends of $18.0 million were
paid on December 4, 2001 to all shareholders of record as of November 20, 2001. Creative paid an ordinary dividend of
$0.25 and a special dividend of $0.25 amounting to $39.4 million in the previous fiscal year.