Key Developments: COSCO Pacific Ltd (1199.HK)
10.42HKD
16 May 2013
HK$-0.02 (-0.19%)
HK$10.44
HK$10.38
HK$10.46
HK$10.38
4,874,319
7,799,338
HK$13.32
HK$8.82
Latest Key Developments (Source: Significant Developments)
Cosco Pacific Ltd Recommends Final Dividend
Cosco Pacific Ltd announced that the directors recommend the payment of a final dividend of HK18.3 cents (2011: HK17.4 cents) per share for the year ended December 31, 2012, with an option to receive new fully paid shares in lieu of cash (Scrip Dividend Scheme). The proposed final dividend will be payable to shareholders whose names appear on the register of members of the Company on May 31, 2013. Full Article
Cosco Pacific Ltd Announces Issuance Of USD300,000,000 4.375% Guaranteed Notes Due 2023
Cosco Pacific Ltd announced that on January 24, 2013, the Company, the Issuer, BOC International, Deutsche Bank, J.P. Morgan and UBS entered into the Subscription Agreement in connection with the Notes Issue in the aggregate principal amount of USD300,000,000. The Issuer currently intends to on-lend the net proceeds of the Notes to the Company and/or its subsidiaries, which will be used primarily for the capital investment for the expansion of the Company's terminal and container leasing businesses, the repayment of the Group’s existing indebtedness and general corporate purposes. Full Article
China Merchants Holdings (International) Co Ltd, Cosco Pacific Ltd To Form JV To buy Taiwan's Kao Ming Container Terminal Corp. From Yang Ming Marine Transport Corp.-DJ
Dow Jones reported that a Chinese consortium has agreed to buy 30% of a container terminal in the Taiwanese city of Kaohsiung that is being developed by port investor Yang Ming Marine Transport Corp. for USD135 million. China Merchants Holdings (International) Co Ltd, a unit of state-owned China Merchants Group, will joint Cosco Pacific Ltd, the port investment arm of China Ocean Shipping (Group) Co., and China Shipping Terminal Development (Hong Kong) Ltd., a unit of state-owned China Shipping (Group) Co., to form a joint venture to buy into Taiwan's Kao Ming Container Terminal Corp. from Yang Ming Marine Transport. China Merchants, Cosco Pacific and China Shipping will each hold 10% in the Kaohsiung project following approval from the Chinese and Taiwan governments. If approved, the investment would be the first in a Taiwanese port by mainland Chinese entities. Full Article
Cosco Pacific Ltd Declares Interim Dividend
Cosco Pacific Ltd announced that Directors have declared an interim dividend of HKD20.5 cents per share (corresponding period of 2011: HKD27.2 cents) for the six months ended June 30, 2012, with an option to receive new fully paid shares in lieu of cash (Scrip Dividend Scheme). The interim dividend will be payable to shareholders whose names appear on the register of members of the Company on September 14, 2012. Full Article
COSCO Pacific Limited Recommends Final Dividend
COSCO Pacific Limited announced that the Directors recommend the payment of a final dividend of HKD0.174 (2010: HKD0.193) per share for the year ended December 31, 2011, with an option to receive new fully paid shares in lieu of cash (Scrip Dividend Scheme). The proposed final dividend will be payable to shareholders whose names appear on the register of members of the Company on May 28, 2012. The Scrip Dividend Scheme is conditional upon the passing of the relevant resolution by the shareholders of the Company at the Annual General Meeting to be held on May 17, 2012 (the 2012 AGM) and the Listing Committee of The Stock Exchange of Hong Kong Limited granting the listing of and permission to deal in the new shares to be issued under the Scrip Dividend Scheme. Dividend warrants and share certificates for new shares to be issued under the Scrip Dividend Scheme will be despatched by ordinary mail on or about July 20, 2012. Details of the Scrip Dividend Scheme and the election form will be sent to shareholders on or about June 19, 2012. Full Article
COSCO Pacific Limited Announces Board Changes
COSCO Pacific Limited announced that Mr. XU Lirong resigned as the Chairman of the Board and a non-executive director of the Company, Mr. WANG Zenghua resigned as an Executive Director of the Company and Mr. GAO Ping resigned as a non-executive director of the Company, all with effect from February 24, 2012 due to change of work designation. The Board further announces that Mr. LI Yunpeng was appointed as the Chairman of the Board and a non-executive director of the Company, Mr. FENG Bo was appointed as an executive director of the Company and Mr. WANG Wei was appointed as a non-executive director of the Company, all with effect from February 24, 2012. Full Article
COSCO Pacific Limited Announces Disposal Of 50% Equity Interest In Florens Capital Management Company Limited
COSCO Pacific Limited announced that that on November 22, 2011, Florens Capital, an indirect wholly owned subsidiary of the Company, entered into the agreement with Fortune Holding (subscriber), pursuant to which the subscriber shall subscribe for the subscription shares for cash at the subscription price of HKD1,000 in aggregate and advance the shareholder’s Loan to Florens Capital; Florens Capital shall increase its authorized share capital and allot and issue the subscription shares to Fortune Holding; and the Company shall guarantee the performance by Florens Capital of all of its obligations under the agreement. Fortune Holding may elect to acquire the subscription shares and to advance the shareholder’s loan through its Nominee and if it so elects, it shall guarantee the performance by the Nominee of all of its obligations under the agreement. The subscription shares represent 50% of the issued share capital of Florens Capital as enlarged by the issue of the subscription shares. The shareholder’s loan is of the same amount, and on the same terms, as the shareholder’s loan already advanced to Florens Capital by Florens Container, a direct wholly owned subsidiary of the Company and the sole shareholder of Florens Capital prior to completion of the subscription. After completion of the agreement, the aggregate interests of Florens Container in the issued share capital of Florens Capital will be diluted from 100% to 50%. Full Article
COSCO Pacific Limited Declares Interim Cash Dividend
COSCO Pacific Limited announced that its Directors have declared an interim cash dividend of HKD0.272 per share (corresponding period of 2010: an interim cash dividend of HKD0.137 per share and a special interim cash dividend of HKD0.111 per share) for the six months ended June 30, 2011. The interim cash dividend will be payable on September 21, 2011 to shareholders whose names appear on the register of members of the Company on September 15, 2011. Full Article
STOCKS NEWS SINGAPORE-Index up; COSCO corp hits 4-yr low
Singapore shares rose on Monday as positive data from the United States instilled optimism and boosted investor confidence, while shares of COSCO Corp tumbled to their lowest in more than four years on disappointing earnings.
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