Ann: 30% increase in normalised profit before tax to A$90 million, page-4

The diluted EPS of CY2015 was reported on 29 Feb 2016 as RMB$1.08 or A$0.23 with the fx= 1A$=RMB$4.692. The declared dividend is A$0.05 per share is consistent with its policy to distribute around 20% of its net earning. The DFM's MD, Mr. Cai, holds 312,390,000 shares, nearly 80.1% of DFM of the total number of issued shares. It means that he will receive around A$15.62M (312,390,000 shares x A$0.05 per share) from the dividend. This is nearly 40% of the funds, ie. A$39M, raised from the IPO.

DFM raised A$39M from its IPO in Oct last year by issuing 39M new shares@A$1.00 each. This represents only 10% of the total issued shares, ie. 390M shares, after the IPO.

The full year of Year 2015 after tax profit is A$81.86M, as announced on 29 Feb 2016. Well, Mr. Cai could have been better off to keep his company remained private since he can therefore, theoretically, be benefited with more than A$72M [=A$81.86 x 312M/ (390M-39M)] from the net profit!

I.m.o. D.y.o.R.