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United Industrial Corporation Limited summary financial report 2005 -

UNITED INDUSTRIAL CORPORATION LIMITED AND ITS SUBSIDIARIES SUMMARY FINANCIAL STATEMENT

NOTES TO THE SUMMARY FINANCIAL STATEMENT For the financial year ended 31 December 2005

RELATED PARTY TRANSACTIONS

(i) Significant transactions with banks and insurance companies in which certain directors have interests and the relevant outstanding balances at year-end are as follows:

2005

2004

$’000

$’000

-

200,000

94,086

84,220

3,508

1,784

257,000

195,000

230,715

102,300

-

128

8,768

1,842

517

-

315

401

79

64

-

40

8,420

8,095

Transferable loan/bonds (principal amount) Fixed deposits placed Interest earned from fixed deposits Secured term loans Unsecured term loans Bank overdrafts Interest paid for bank loans Bankers’ guarantee commission Insurance premium paid Commitment fee paid Agency fees paid for term loan Sales of goods and services

The Group

(ii) Other related party transactions:

Sales to an associated company Directors’ emoluments Directors of the Company:

  • -

    Fees

  • -

    Salaries, bonus and other emoluments

DIVIDEND

700

700

555

496

  • -

    400

The Group

2005

2004

$’000

$’000

Ordinary dividend paid: Final dividend of 1.50 cents (2004: 1.25 cents) per share, in respect of the financial year ended 31 December 2004 (2004: 31 December 2003) paid net of tax at 20% (2004: 20%)

16,530

13,775

A final dividend in respect of financial year ended 31 December 2005 of 2.00 cents per share net of tax at 20% amounting to a total of $22,040,000 is proposed by the Board. The dividend proposed is not accounted for until it has been approved at the Annual General Meeting. The amount will be accounted for as an appropriation of retained earnings in the financial year ending 31 December 2006.

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