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Report of the Directors

PURCHASE, SALE OR REDEMPTION OF SHARES

During the year ended 31st March 2015, the Company repurchased a total of 670,000 ordinary shares of the
Company at a consideration of HK$977,600 on The Stock Exchange of Hong Kong Limited. All the 670,000
repurchased shares were cancelled during the financial year. Details of the repurchases are as follows:

Total number
of shares Price per share Aggregate
Month of repurchases repurchased Highest Lowest consideration
HK$ HK$ HK$

April 2014 320,000 1.33 1.29 419,600
July 2014 100,000 1.47 1.47 147,000
August 2014 250,000 1.67 1.58 411,000

670,000 977,600

The repurchases were made for the benefit of the Company and its shareholders as a whole with a view to
enhancing the net asset value per share and to improving the earnings per share of the Company.

Save as disclosed above, neither the Company nor its subsidiary companies has purchased or sold any of
the Company’s shares during the year ended 31st March 2015 and the Company has not redeemed any of
its shares during the same financial year.

BANK LOANS AND OTHER BORROWINGS

An analysis of the Group’s bank borrowings and trust receipt loans at 31st March 2015 and 2014 is set out
below:

Trust receipt loans Bank borrowings
2015 2014 2015 2014
HK$’000 HK$’000 HK$’000 HK$’000

Within one year 1,654 – 50,000 80,000
In the second year – – – 50,000

1,654 – 50,000 130,000

PRINCIPAL SUBSIDIARIES

Details of the Company’s principal subsidiaries at 31st March 2015 are set out in Note 35 to the consolidated
financial statements.

18 ALCO HOLDINGS LIMITED ANNUAL REPORT 2015