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clients achieve their financial goals in a rapidly changing world. BEA
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REPORT OF THE DIRECTORS
REPORT OF THE DIRECTORS (continued)
The Directors have pleasure in presenting their annual report During the year, 14,204,000 shares of HK$2.50 each were
together with the audited accounts for the year ended 31st issued for cash of HK$217,003,000 on the exercise of options
December, 2003. granted under the approved Staff Share Option Schemes.
Principal Activities Convertible Bonds due 2003
The Bank and its subsidiaries (the “Group”) are engaged in the In July 2003, the Bank fully redeemed the Convertible
provision of banking and related financial services, and business, Bonds due 2003 (the “Bonds”) at par in the amount of
corporate and investor services. HK$119,621,000 (US$15,340,000) upon maturity pursuant to
the terms and conditions of the Bonds. The Bonds were listed
Profit on the Luxembourg Stock Exchange.
The consolidated profit of the Group for the year ended 31st
December, 2003, together with particulars of the appropriations Dealings in Listed Securities of the Bank
which have been
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