Cathay Pacific 2004 Annual Report Download - page 35

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EXTERNAL AUDITORS
The external auditors are primarily responsible
for auditing and reporting on the annual financial
statements. In 2004 the total remuneration paid to
the external auditors was HK$8 million, being HK$6
million for audit and HK$2 million for tax advice.
AIRLINE SAFETY REVIEW COMMITTEE
The Airline Safety Review Committee meets
monthly to review the Company’s exposure to
operational risk. It reviews the work of the Cabin
Safety Review Committee, the Operational Ramp
Safety Committee and the Engineering Mandatory
Occurrence Report Meeting. It is chaired by
the Head of Corporate Safety and comprises
Directors and senior management of all operational
departments as well as senior management from
the ground handling company, Hong Kong Airport
Services Limited, and the aircraft maintenance
company, HAECO.
ARTICLES OF ASSOCIATION
At the Annual General Meeting held on 12th May
2004, the shareholders had passed a special
resolution to amend the Company’s Articles of
Association for the following main purposes:
(i) to reflect the amendments to the Listing Rules
in early 2002 which permit a listed company to
issue corporate communications to its members
and other securities holders in either the English
language only, the Chinese language only or
both the English language and the Chinese
language in accordance with the wishes of its
members and other securities holders provided
that the listed company has made adequate
arrangements to ascertain the wishes of its
members and other securities holders;
(ii) to reflect the amendments to Appendix 3 to the
Listing Rules which came into effect on 31st
March 2004 (which Appendix stipulates certain
provisions as being required to be included in the
articles of association of listed companies); and
(iii) to enable Directors to hold meetings by
telephone or any communication equipment
or electronic means and to incorporate minor
drafting improvements.
INVESTOR RELATIONS
The Company continues to enhance relationships
and communication with its investors. Extensive
information about the Company’s performance
and activities is provided in the Annual Report and
the Interim Report which are sent to shareholders.
Regular dialogue with institutional investors and
analysts is in place to keep them abreast of the
Company’s development. Inquiries from investors
are dealt with in an informative and timely manner.
All shareholders are encouraged to attend the
Annual General Meeting to discuss matters
relating to the Company. Any inquiries from
shareholders can be addressed to the Corporate
Communication Department whose contact details
are given on page 72.
In order to promote effective communication,
the Company maintains its website at
www.cathaypacific.com on which financial and
other information relating to the Company and its
business are disclosed.
Shareholders may request an extraordinary
general meeting to be convened in accordance
with Section 113 of the Companies Ordinance.
Cathay Pacific Airways Limited 2004 Annual Report 31