Vtech 2008 Annual Report Download - page 25

VTech Holdings Ltd Annual Report 2008 23
REPORT OF THE DIRECTORS
Rolf D. SEICHTER, aged 65, President of VTech Telecom, L.L.C.,
is responsible for the overseas development and marketing
of Contract Manufacturing Services business. Mr. SEICHTER
joined VTech in 1999, left in 2001 and re-joined in 2004. Prior
to joining VTech, he held senior management positions with
several large high-tech corporations in Europe and the United
States. He is well familiar with high-tech applications in the
telecommunications, industry, automation and consumer
markets. He holds a Master of Science degree in RF Electronics
from Gauss University, Berlin, Germany and an MBA degree from
Su olk University, Boston, MA, USA.
Corporate Services
CHANG Yu Wai, aged 48, Company Secretary and Group
Chief Compliance O cer. Joined the Group in June 2000
after spending 8 years with one of the leading international
accounting  rms in Hong Kong. He has over 15 years of
experience in professional accounting and auditing. He holds a
Bachelor of Science degree in Mathematics and Management
Sciences from the University of Manchester Institute of Science
and Technology. Mr. CHANG is a member of the Institute of
Chartered Accountants in England and Wales.
Shereen TONG Ka Hung, aged 39, Group Chief Financial
O cer, is responsible for the Group accounting and tax, treasury
and  nancial as well as information technology and human
resources management functions. Ms. TONG joined the Group in
1994 and has held management positions in a number of areas
including internal audit and  nancial control of the Group. She
holds an MBA degree from Manchester Business School, UK, a
Master of Science degree in Information Systems from Hong
Kong Polytechnic University and a Bachelor of Laws degree from
Manchester Metropolitan University, UK. She is an Associate
Member of Chartered Institute of Bankers, UK, Chartered
Institute of Management Accountants, UK and a Fellow Member
of Hong Kong Institute of Certi ed Public Accountants.
The directors have pleasure to present their report and the
audited  nancial statements of the Group for the year ended
31st March 2008.
PRINCIPAL ACTIVITY
The principal activity of the Group is the design, manufacture
and distribution of consumer electronics products.
GROUP RESULTS AND DIVIDENDS
The results of the Group for the year ended 31st March 2008 are
set out in the consolidated income statement on page 29.
An interim dividend of US12.0 cents (2007: US9.0 cents) per
ordinary share was paid to shareholders on 21st December 2007.
The directors have recommended the payment of a  nal
dividend of US51.0 cents (2007: US41.0 cents) per ordinary share
payable on 8th September 2008 to shareholders in respect
of the year ended 31st March 2008 whose names appear on
the register of members of the Company as at the close of
business on 5th September 2008 subject to the approval of
the shareholders of the Company at the forthcoming annual
general meeting.
The  nal dividend will be paid in United States dollars save that
those shareholders with a registered address in Hong Kong will
receive the equivalent amount in Hong Kong dollars and those
registered in the United Kingdom will receive the equivalent
amount in Sterling both calculated at the rates of exchange
as quoted to the Company by The Hongkong and Shanghai
Banking Corporation Limited at its mid rate of exchange
prevailing on 27th August 2008.
COMMENTARY ON PERFORMANCE
A commentary on the performance of the Group is included in
the review of operations set out on pages 8 to 13.
GROUP FINANCIAL SUMMARY
A summary of the results and of the assets and liabilities of the
Group for the last  ve  nancial years is set out on page 53.
TANGIBLE ASSETS
Details of the movements in tangible assets are shown in note 7
to the  nancial statements.
SHARE CAPITAL AND SHARE OPTIONS
Details of the movements in share capital and share options
of the Company during the year are set out in note 17 to the
 nancial statements.