Annual Report 2021

MANAGEMENT DISCUSSION AND ANALYSIS 13 The United Laboratories International Holdings Limited Annual Report 2021 PURCHASE, REDEMPTION OR SALE OF LISTED SECURITIES OF THE COMPANY During the year ended 31 December 2021, the Company repurchased a total of 10,900,000 shares on the Stock Exchange at total consideration (including transaction costs) of approximately HK$50,013,000. All the repurchased shares were subsequently cancelled. Particulars of the repurchases are as follows: Purchase Price Month No. of Shares Highest Lowest Total Consideration HK$ HK$ HK$ January to November – – – – December 10,900,000 4.60 4.46 50,013,000 Save for the above, neither the Company, nor any of its subsidiaries purchased, sold or redeemed any of the listed securities of the Company during the year ended 31 December 2021. CORPORATE GOVERNANCE The Company is committed to ensure high standards of corporate governance in the interest of its shareholders. The Company has applied and complied with the applicable code provisions set out in the Corporate Governance Code (“CG Code”) and Corporate Governance Report contained in Appendix 14 of the Listing Rules, except for certain deviations which are summarised below: – Code Provision A.2.1 Under the code provision A.2.1 of the CG Code, the roles of chairman and chief executive officer should be separated and should not be performed by the same individual. During the year ended 31 December 2021, the Company did not have a chief executive officer. The Company will make appointment to fill the post as appropriate. CODE FOR SECURITIES TRANSACTIONS BY DIRECTORS The Company has adopted the Model Code as set out in Appendix 10 to the Listing Rules as its code of conduct for dealings in securities of the Company by the directors. Following a specific enquiry, all directors confirmed that they have complied with the required standards set out in the Model Code throughout the year.