In April. May each year, the Remuneration Forum will discuss how the budget for remuneration increases will be distributed for the forthcoming remuneration review. This includes: The “distribution model” to be applied, and When any band movement is applied (before or after the distribution model is applied). The distribution model will be decided each year in accordance with the principles below: Larger relative percentage increase for those lower in the range. Larger relative percentage increases for those with higher performance ratings. The system may deliver a percentage increase up to 120% of position in range Those who achieve “successful performance” or higher and have a position in range between 80% and 110% will gain a percentage increase Parties may also take into account other relevant factors that are mentioned in this clause 22. The Remuneration Forum will seek to agree the distribution of the budget for remuneration increases. In doing this the forum participants will be committed to using a principled, interest-based approach to discussions, and may seek the assistance of a mediator if both parties agree. The parties may also agree to test recommendations with the respective parties’ constituencies. If, as an outcome of such consultation, issues are identified by either party, the forum will reconvene to consider the issues and develop further recommendations taking into account the issues identified. This must be done, however prior to 15 May. The Remuneration Forum are committed to finalising how the budget for remuneration increases will be distributed by 15 May. The final decision (covering the distribution model and the timing of band movement) will be published on the Intranet by 31 May. XXXX propose revising the following remuneration clauses to reflect the new approach to remuneration for 2018 and 2019:
In April. 2014 the Authority published its appraisal framework. This appraisal framework specifies a range of assessments, which explore the operational, commercial and technical viability of the short-listed options, and which will go on to form the basis of detailed business cases and sustainability assessments for each option. The Appraisal Framework sets out the Commission’s objectives and the 16 detailed appraisal modules the Commission will use to assess the options.
In April the Issuer completed a rights issue at a price of HK$0.131 per rights share on the basis of one rights share for every two shares. The net proceeds from the rights shares totalled approximately HK$156.9 million and were capitalised to improve the Issuer’s current ratio and gearing ratio. In October, the Issuer issued perpetual securities in the aggregate principal amount of HK$580 million to Southwest Securities International Investment, the immediate holding company of the Issuer. The issuance of the perpetual securities is expected to enhance the Issuer’s working capital positions, strengthen its capital base and improve its financial position to support the Issuer’s ongoing operations and further business development.
