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Report of the Directors

PURCHASE, SALE OR REDEMPTION OF SHARES

During the year ended 31st March 2018, the Company repurchased a total of 772,000 ordinary share of
the Company at a consideration of HK$1,472,500 on The Stock Exchange of Hong Kong Limited. All the
772,000 repurchased shares were cancelled during the financial year. Details of the repurchases are as
follows:

Total number
Month of of shares Price per share Aggregate
repurchases repurchased Highest Lowest Consideration
HK$ HK$ HK$
September 2017 772,000 1.95 1.83 1,472,500

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 2018 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 at 31st March 2018 and 2017 is set out below:

Bank borrowings
2018 2017
HK$’000 HK$’000
Within one year 91,615 116,400
In the second to fifth year 7,646 58,200
Over five years 34,457 –
133,718 174,600

38 ALCO HOLDINGS LIMITED ANNUAL REPORT 2018