Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.
SANDS CHINA LTD.(incorporated in the Cayman Islands with limited liability)
(Stock Code: 1928) INTERIM DIVIDEND SPECIAL DIVIDEND CLOSURE OF REGISTER OF MEMBERS ADJUSTMENT TO EXERCISE PRICE OF SHARE OPTIONS
The board of directors (the "Board") of Sands China Ltd. (the "Company") has today resolved to declare:
1. an interim dividend of HK$0.87 per share (the "Interim Dividend"); and
2. a special dividend of HK$0.77 per share (the "Special Dividend"),
in each case, payable to shareholders of the Company whose names appear on the register of members of the Company on February 14, 2014. It is expected that the Interim Dividend and the Special Dividend will be paid on or about February 26, 2014.
The register of members of the Company will be closed for the purpose of determining the identity of members who are entitled to the Interim Dividend and the Special Dividend from February 13, 2014 to February 14, 2014, both days inclusive, during which period no transfer of shares of the Company will be effected.
Pursuant to the Company's current Equity Award Plan (the "Plan"), as a result of the Special Dividend, the Remuneration Committee has approved an adjustment of the exercise price of outstanding share options that were granted under the Plan. Further details of such adjustment are set out below.
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INTERIM DIVIDEND AND SPECIAL DIVIDEND
The Board of the Company has today declared:
1. the Interim Dividend; and
2. the Special Dividend,
in each case, payable to shareholders of the Company whose names appear on the register of members of the Company on February 14, 2014. It is expected that the Interim Dividend and the Special Dividend will be paid on or about February 26, 2014.
The register of members of the Company will be closed for the purpose of determining the identity of members who are entitled to the Interim Dividend and the Special Dividend from February 13,
2014 to February 14, 2014, both days inclusive, during which period no transfer of shares of the
Company will be effected.
In order to qualify for the Interim Dividend and Special Dividend, all duly completed transfer forms accompanied by the relevant share certificates must be lodged with the Company's branch share registrar in Hong Kong, Computershare Hong Kong Investor Services Limited at Shops 1712-1716,
17th Floor, Hopewell Centre, 183 Queen's Road East, Wanchai, Hong Kong for registration no later than 4:30 p.m. on February 12, 2014.
The Board has declared the Special Dividend after considering the Company's capital structure, the level of resources needed to cover the Company's operational and capital requirements in the medium term, the Company's cash balance and the desire to maximize shareholder value. The declaration of this Special Dividend should not be construed as a commitment by the Company to declare a similar special dividend in the future or on a regular basis.
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ADJUSTMENT TO EXERCISE PRICE OF SHARE OPTIONSPursuant to the Plan, as a result of the Special Dividend, the Remuneration Committee has approved an equitable adjustment of the exercise price of the outstanding share options that were granted under the Plan. Such adjustment will take effect on the date on which the Special Dividend is paid to the shareholders of the Company (currently expected to be on or about February 26, 2014). As at the date of this announcement, there are 17,313,221 outstanding share options granted under the Plan and the table below sets out the adjusted exercise price of these share options:
Number of outstanding3,170,425 | March 31, 2010 | HKD12.40 | HKD11.63 | |||
0 | May 11, 2010 | HKD11.83 | HKD11.06 | |||
41,250 | July 6, 2010 | HKD11.47 | HKD10.70 | |||
0 | August 26, 2010 | HKD12.28 | HKD11.51 | |||
600,725 | September 30, 2010 | HKD14.00 | HKD13.23 | |||
0 | October 21, 2010 | HKD15.38 | HKD14.61 | |||
682,500 | November 1, 2010 | HKD17.10 | HKD16.33 | |||
945,450 | January 17, 2011 | HKD19.34 | HKD18.57 | |||
889,471 | May 11, 2011 | HKD22.50 |
By order of the Board
SANDS CHINA LTD. David Alec Andrew Fleming Company SecretaryMacao, January 24, 2014
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As at the date of this announcement, the directors of the Company are:
Executive Directors: Edward Matthew Tracy Toh Hup Hock
Non-executive Directors:
Sheldon Gary Adelson
Michael Alan Leven (David Alec Andrew Fleming as his alternate)
Jeffrey Howard Schwartz
Irwin Abe Siegel
Lau Wong William
Independent non-executive Directors:
Iain Ferguson Bruce
Chiang Yun
David Muir Turnbull
Victor Patrick Hoog Antink
Steven Zygmunt Strasser
This announcement is made in English and Chinese. In the case of any inconsistency, the English version shall prevail.
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