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Glorious Property
Annual Report 2011
Corporate Governance Report
(Continued)
Directors’ Responsibilities for Financial Statements
All Directors acknowledge their responsibility for preparing the consolidated financial statements of the Group for the
year ended 31 December 2011 and of ensuring that the preparation of the consolidated financial statements of the
Group is in accordance with the applicable standards and requirements.
The report of the auditor of the Company concerning its responsibilities on the consolidated financial statements of the
Company is set out on pages 85 and 86 of this annual report.
Shareholders’ Meetings
All shareholders of the Company have the right to be informed and participate in material matters of the Company as
prescribed by laws and the articles of association of the Company.
The Company regards the annual general meeting as an important event as it provides an invaluable opportunity for the
Board to communicate with the shareholders.
During the Review Period, the Company held an extraordinary general meeting on 23 November 2011 to consider and
approve (i) the entering into of the construction services agreement dated 19 October 2011 (the “Construction Services
Agreement”) between the Company and
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(Shanghai Ditong Construction (Group) Co., Ltd.*)
in relation to the provision of construction and related services to the Group from time to time for a term of three years
from 1 January 2012 to 31 December 2014, (ii) the proposed annual caps for the transactions contemplated under the
Construction Services Agreement and (iii) the execution of the Construction Services Agreement by any one director of
the Company.
Communication with Shareholders and Investors
The Company believes that effective communication with its shareholders is essential for enhancing investor relations
and investors’ understanding of the Company’s business performance and strategies. The Company also recognises the
importance of transparent and timely disclosure of corporate information, which enables shareholders and investors to
make the most informed investment decisions.
The goal of the Company’s communication activities is to provide a true and fair view of the Company to the public. To
further enhance the Company’s relationship with its shareholders and investors and to ensure that all investors have a
better understanding of the Company, the Company has established an Investor Relations Department to handle regular
contact with investors.
Important events regarding financial results, business development and operations are also announced on a timely basis
to investors through the Company’s website www.gloriousphl.com.cn.
To maintain and improve the visibility of the Company in the financial community, the Company has participated in
various investors’ conferences during the Review Period. Going forward, the Company will continue to leverage on
various channels and platforms including press conferences, analyst briefings and industry conferences to ensure the
timely release of important messages to the public.
* For identification purpose only