Coach 2015 Annual Report Download - page 21

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



The characteristics of the U.S. capital markets and the Hong Kong capital markets are different.





We are a corporation incorporated in the State of Maryland in the United States and our corporate governance practices are principally governed by U.S.
federal and Maryland state laws and regulations.
                         

                     





  









HDR holders are not stockholders of the Company and must rely on the depositary for the HDRs (the HDR Depositary”) to exercise on their behalf the
rights that are otherwise available to the stockholders of the Company.








Holders of HDRs will experience dilution in their indirect interest in the Company in the event of an equity offering which is not extended to them.

