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Glorious Property
Annual Report 2011
Report of the Directors
(Continued)
Management Contracts
No contract concerning the management and administration of the whole or any substantial part of the business of the
Company was entered into or existed during the year.
Directors’ Service Contracts
None of the Directors has entered into a service contract with the Company or its subsidiaries which is not determinable
within one year without payment of compensation, other than statutory compensation.
Director’s Remuneration
Directors’ remuneration is determined by reference to the Director’s duties and responsibilities, their individual
performance, the financial results of the Group and the prevailing market benchmark.
Details of the remuneration of the Directors and the five highest paid individuals of the Company for the year ended 31
December 2011 are set out in note 30 to the consolidated financial statements. There was no arrangement under which
a Director waived or agreed to waive any remuneration during the year.
Pension Schemes
Details of the Group’s pension schemes are set out in note 2(t) to the consolidated financial statements.
Sufficiency of Public Float
Based on the information that is publicly available to the Company and within the knowledge of the Directors, during
the year and up to the date of this annual report, the Company has maintained the prescribed public float under the
Listing Rules.
Corporate Governance
The Company’s corporate governance principles and practices are set out in the corporate governance report on pages
68 to 74 of this annual report.
Auditor
The financial statements for the financial year ended 31 December 2011 have been audited by PricewaterhouseCoopers,
who will retire at the conclusion of the 2012 annual general meeting of the Company. A resolution for the re-
appointment of PricewaterhouseCoopers as the auditor of the Company will be proposed at that meeting.
On behalf of the Board
Zhang Zhi Rong
Chairman
Hong Kong, 30 March 2012