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Report of the Directors





             DIRECTORS’ AND CHIEF EXECUTIVES’ INTERESTS AND SHORT POSITIONS IN THE SHARES,
             UNDERLYING  SHARES  AND  DEBENTURES  OF  THE  COMPANY  OR  ANY  ASSOCIATED
             CORPORATION


             (a)  Long positions in ordinary shares of HK$0.10 each of the Company

                  As at 31st March 2016, the interests and short positions of each director and chief executives in the
                  shares, underlying shares and debentures of the Company and its associated corporations (within the
                  meaning  of  the  Securities  and  Futures  Ordinance  (“SFO”)),  as  recorded  in  the  register  required  to  be
                  kept by the Company under Section 352 of Part XV of the SFO or otherwise notified to the Company
                  and The Stock Exchange of Hong Kong Limited (the “Stock Exchange”) pursuant to the Model Code for
                  Securities Transactions by Directors of Listed Issuers (the “Model Code”) were as follows:


                                                                                                Percentage of
                                                                                                   the issued
                                                                Number of shares held            share capital
                                                          Personal     Corporate                      of the
                                                           interest      interest        Total      Company
                  Mr LEUNG Kai Ching, Kimen             20,152,000   225,911,400    246,063,400      42.47%
                                                                          (Note)


                  Mr LEUNG Wai Sing, Wilson             46,320,000           –      46,320,000        7.99%

                  Mr LEUNG, Jimmy                        1,144,000           –       1,144,000        0.20%

                  Mr KUOK Kun Man                         752,000            –         752,000        0.13%


                  Mr LI Wah Ming                          260,000            –         260,000        0.04%

                  Note:

                  These  shares  were  owned  by  Shundean  Investments  Limited,  a  company  incorporated  in  the  British  Virgin  Islands  with  limited  liability,  of
                  which Mr LEUNG Kai Ching, Kimen is the sole shareholder.

























                                                                      ALCO HOLDINGS LIMITED  ANNUAL REPORT 2016  21
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