Cathay Pacific 2004 Annual Report Download - page 29

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DIRECTORS
All the present Directors of the Company
whose names are listed on pages 20 and 21
served throughout the year. The Company has
received from each of its independent non-
executive Directors an annual confirmation of his
independence pursuant to Listing Rule 3.13 and
the Company still considers all its independent
non-executive Directors to be independent.
Article 93 of the Company’s Articles of Association
provides for all the Directors to retire at the third
Annual General Meeting following their election by
ordinary resolution. In accordance therewith, James
Hughes-Hallett, Martin Cubbon and Raymond Yuen
retire this year and, being eligible, offer themselves
for re-election. Sir Adrian Swire also retires in
accordance with Article 93 but does not offer
himself for re-election.
No Director has a service contract with the
Company which is not determinable by the
employer within one year without payment of
compensation (other than statutory compensation).
Directors’ fees paid to the independent non-
executive Directors during the year totalled
HK$1,190,000; they received no other emoluments
from the Company or any of its subsidiaries.
Percentage of
No. of shares issued capital
Philip Chen 9,000 0.00027
Derek Cridland 17,000 0.00051
Tony Tyler 5,000 0.00015
Raymond Yuen 9,000 0.00027
Other than as stated above, no Director or chief
executive of Cathay Pacific Airways Limited had
any interest or short position, whether beneficial
or non-beneficial, in the shares or underlying shares
(including options) and debentures of Cathay Pacific
Airways Limited or any of its associated corporations
(within the meaning of Part XV of the SFO).
DIRECTORS’ INTERESTS IN COMPETING BUSINESS
Pursuant to Rule 8.10 of the Listing Rules, Henry
Fan, Tony Tyler, Raymond Yuen and Zhang Xianlin
have disclosed that they are directors of Hong
Kong Dragon Airlines Limited (“Dragonair”), which
competes or is likely to compete, either directly or
indirectly, with the businesses of the Company as
it operates airline services to certain destinations
which are also served by the Company.
DIRECTORS’ INTERESTS
At 31st December 2004, the register maintained
under Section 352 of the Securities and Futures
Ordinance (“SFO”) showed that Directors
held the following beneficial interests (all being
personal interests) in the shares of Cathay Pacific
Airways Limited :
Cathay Pacific Airways Limited 2004 Annual Report 25