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LI & FUNG LIMITED
利豐有限公司


Li & Fung (Trading) Ltd v Commissioner of Inland Revenue
HK Court of First Instance, 18-Apr-2011
The taxpayer is wholly-owned by Li & Fung (0494). The judgment criticises the Board of Review for taking 3.5 years to produce a decision, and for failing to be clear in its Decision on what findings of fact it was making.

Li & Fung/IDS: special treatment for 1 shareholder
While this will benefit CCASS Participants, it plays fast-and-loose with the Bermuda Companies Act and the Takeover Code. It would have been better to amend the scheme to allow all registered shareholders to make partial elections, rather than coming to an "arrangement" with one registered shareholder outside the terms of the scheme. (28-Sep-2010)

Li & Fung/IDS offer has sting
The all-or-nothing nature of the share alternative, now worth 23% more than the cash offer, means that CCASS, which holds almost all the public shares in IDS, cannot offer the share alternative to its participants. Webb-site urges Li & Fung and IDS to amend the scheme to allow registered holders to make partial elections for shares. Otherwise, if you snooze, you lose. (24-Sep-2010)

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)

Vampire - Nothing Left to Prove
Last week saw AGMs of CITIC Pacific, Hysan, Li & Fung, China Unicom, Cathay, Swire, HK Electric and CKI. In every case, a majority of investor votes were against the 20% cash issue mandate, but controllers pushed it through. With 10 HSI companies now having voted, Project Vampire has nothing left to prove - investors have voted on average by more than 2 to 1 against the issue mandate. It's time for the regulators to act. (16-May-2004)

Results of AGM
Company web site, 12-May-2003
Li & Fung Voting Recommendations
The 8th AGM in Project Poll is on 12-May-03. We urge shareowners to vote against the general mandate, to help protect their shareholding from dilution. We also ask L&F to announce what level of directors' fees they intend to propose at the AGM, since the current proposal is too vague. (28-Apr-2003)

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