victory city intl hldgs ltd (539) Snapshot

Victory City International Holdings Limited, Special/Extraordinary Shareholders Meeting, Apr 02, 2013., at 10:00 China Standard Time. Location: Unit D, 3rd Floor, Winfield Industrial Building. Agenda: To consider the relevant proposed annual capped amounts of the transactions contemplated under the Kimberley-FG Holdings Master Agreement for the three years ending 31 March 2016 as shown in the company's circular dated 14 March 2013 be and the same are hereby approved; to consider the relevant proposed annual capped amounts of the transactions contemplated under the Mayer-FG Holdings Master Agreement for the three years ending 31 March 2016 as shown in the company's circular dated 14 March 2013 be and the same are hereby approved; and to consider the relevant proposed annual capped amounts of the transactions contemplated under the Fabric Master Agreement for the three years ending 31 March 2016 as shown in the company's circular dated 14 March 2013 be and the same are hereby approved.

The board of directors of Victory City International Holdings Limited announced that the Group has set up a new production plant for the production of resin, with a maximum monthly production capacity of approximately 10,000 tons. Subject to the obtaining of relevant approvals from the regulatory authorities in the People's Republic of China, trial production is scheduled to be commenced at the New Production Plant by the end of January 2013. As disclosed in the interim report of the Company, the Group had spent approximately HKD 252 million on additions to property, plant and equipment, of which approximately HKD 177 million was spent on establishment of the New Production Plant. The New Production Plant commenced construction in 2012 and set up by acquisition of machineries and utilisation of the Group's existing infrastructure at its production facilities in Jiangmen, Guangdong Province, the PRC, including its existing chemical mixing plant, coal-fired generators and waste water treatment and recycle facilities. It is intended that the capital commitments in respect of such business development would be approximately HKD 250 million, of which approximately HKD 223 million had been invested as at the date of this announcement.

Victory City International Holdings Limited announced unaudited consolidated earnings results for the six months ended September 30, 2012. For the quarter, the company reported revenue of HKD 1,993,707,000 against HKD 2,000,236,000 a year ago. Profit before taxation was HKD 100,973,000 against HKD 233,763,000 a year ago. Profit for the period attributable to owners of the company was HKD 84,647,000 or 5.5 cents basic and diluted per share against HKD 214,022,000 or 15.9 cents basic and diluted per share a year ago. During the period, the company spent on additions to property, plant and equipment approximately HKD 252,000,000 compared to HKD 63,000,000 for the same period a year ago. The board of directors has resolved to declare an interim dividend of 2.0 cents per share of the company for the period ended September 30, 2012, compared to 2.5 cents for the same period a year ago. The interim dividend will be payable on or about March 5, 2013 to shareholders whose names appear on the register of members of the company on December 28, 2012 with a scrip alternative to offer the right to shareholders to elect to receive such interim dividend wholly or partly by allotment of new shares credited as fully paid in lieu of cash.