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CROCODILE GARMENTS LIMITED
鱷魚恤有限公司


Crocodile (0122) buys Hennessy Rd shop on 2% yield
Company announcement, 16-Apr-2013
A company called Group Able Ltd originally agreed to buy the unit on 17-Oct-2012, but the deal was passed to Crocodile's subsidiary Keepower Ltd on 20-Feb-2013 in a "nomination", apparently without payment. Crocodile should have announced this 2 months ago, if it owned the purchaser then. Our search shows that the directors of Group Able are Mrs Rita Liu Tong, wife of Liu Lit Ching (an ED of Chong Hing Bank) and Jeffrey Liu Wai-lun, their son. The shop tenant is currently "Honeymoon Dessert".

Crocodile bonus issue
Company circular, 25-Apr-2012
"To celebrate the 60th anniversary of Crocodile in the apparel business, the Board has recommended the Proposed Bonus Issue of Shares as a requital to the Shareholders for their ever-lasting valuable trust and support". What a load of nonsense. Bonus issues, like stock splits, do not generate shareholder value - they just incur administrative expenses. The company should resume paying dividends instead. It has NAV of $1.67 per share (31-Jan-2012) but trades at $0.49 - that's unrequited love!
The paid advert opposing the blackout rule
Click on "Orgs" or "People" below to get a list of signatories, scroll down, then click on their names to go to the signatory you are interested in. (29-Dec-2008)

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