Annual Report 2021

098 Report of the Directors Annual Report 2021 Miramar Hotel and Investment Company, Limited Directors’ Interests in Transactions, Arrangements or Contracts Apart from the material interest that some of the directors and their connected entity held in the contracts under the paragraph of the Connected Transaction and Continuing Connected Transactions, there were no other transactions, arrangements or contracts of significance which subsisted during or at the end of the financial year in which the Company, any of its holding companies, subsidiaries or fellow subsidiaries was a party and in which a director was interested, directly or indirectly, and the director’s interest was material. Directors’ and Management Emoluments Particulars of directors’ emoluments and the five highest paid individuals in the Group are set out in notes 5 and 6 respectively to the financial statements. Arrangements to Purchase Shares or Debentures At no time during the year ended 31 December 2021 was the Company, any of its holding companies, subsidiaries or fellow subsidiaries a party to any arrangement to enable the Directors of the Company to acquire benefits by means of the acquisition of shares in, or debentures of, the Company or any other body corporate. Directors’ Interests in Competing Business The following directors are considered to have interests in businesses which compete or are likely to compete with the businesses of the Group pursuant to the Listing Rules: 1. Dr Lee Ka Shing and Dr Colin Lam Ko Yin are also directors of Henderson Development and Henderson Land which, through their subsidiaries, are also engaged in the businesses of property investment and other related services. 2. Dr Colin Lam Ko Yin, Mr Eddie Lau Yum Chuen and Mr Norman Ho Hau Chong are also directors of Hong Kong Ferry (Holdings) Company Limited (“HK Ferry”), the principal activities of this group include property development and property investment. 3. Dr Lee Ka Shing is also treated to have deemed interest in Henderson Development, Henderson Land and HK Ferry by virtue of the Securities and Futures Ordinance, Chapter 571. As the board of directors of the Company is independent from the boards of the above-mentioned companies and none of the above directors controls the board of the Company, the Group is capable of carrying on its businesses independently of, and at arm’s length from, the businesses of those companies.