DIRECTORS’ REPORT The Directors submit their report together with the audited relevant share certificates must be lodged with the financial statements for the year ended 31st December Company’s share registrars, Computershare Hong Kong 2023, which are set out on pages 142 to 210. Investor Services Limited, 17th Floor, Hopewell Centre, 183 Queen’s Road East, Hong Kong, for registration not Principal Activities later than 4:30 p.m. on Wednesday, 3rd April 2024. The principal activities of Swire Properties Limited and its To facilitate the processing of proxy voting for the annual subsidiaries (collectively referred to as the “Group”) are: (i) general meeting to be held on 7th May 2024, the register of property investment, that is the development, leasing and members will be closed from 2nd May 2024 to 7th May 2024, management of commercial, retail and some residential both days inclusive, during which period no transfer of properties; (ii) property trading, that is the development and shares will be effected. In order to be entitled to attend and construction of properties, principally residential apartments, vote at the annual general meeting, all transfer forms for sale; and (iii) investment in and operation of hotels. accompanied by the relevant share certificates must be The principal activities of the Company’s principal subsidiary, lodged with the Company’s share registrars, Computershare joint venture and associated companies are shown on pages Hong Kong Investor Services Limited, 17th Floor, Hopewell 208 to 210. An analysis of the Group’s performance for the Centre, 183 Queen’s Road East, Hong Kong, for registration year by reportable business segment and geographical area not later than 4:30 p.m. on Tuesday, 30th April 2024. is set out in note 8 to the financial statements. Business Review Consolidated Financial Statements A fair review of the Group’s business, a description of the The consolidated financial statements incorporate the principal risks and uncertainties facing the Group, financial statements of the Group together with the Group’s particulars of important events affecting the Group that interests in joint venture and associated companies. Details have occurred since the end of the financial year and an of the joint venture and associated companies are provided indication of the likely future development of the Group’s in notes 20 and 21 to the financial statements. business (including, in each case to the extent necessary for an understanding of the development, performance or Dividends position of the Group’s business, key performance indicators) are provided in the sections of this annual The Directors have declared a second interim dividend of report headed Chairman’s Statement, Chief Executive’s HK$0.72 per share which, together with the first interim Statement, Key Business Strategies, Review of Operations, dividend of HK$0.33 per share paid in October 2023, Financial Review and Financing and in the notes to the amount to full year dividend of HK$1.05 (2022: HK$1.00) financial statements. To the extent necessary for an per share. The second interim dividend will be paid on understanding of the development, performance or Thursday, 2nd May 2024 to shareholders registered at the position of the Group’s business, a discussion of the Group’s close of business on the record date, being Friday, 5th April environmental policies and performance and an account of 2024. Shares of the Company will be traded ex-dividend as the Group’s key relationships with its employees, from Tuesday, 2nd April 2024. customers and suppliers and others that have a significant The Company’s dividend policy is to deliver sustainable impact on the Group and on which the Group’s success growth in dividends and to pay out approximately half of depends are provided in the section of this annual report our underlying profit in ordinary dividends over time. headed Sustainable Development, and a discussion of the Group’s compliance with the relevant laws and regulations Closure of Register of Members that have a significant impact on the Group is provided in the sections of this annual report headed Sustainable The register of members will be closed on Friday, 5th April Development, Corporate Governance, Risk Management 2024, during which day no transfer of shares will be and Directors’ Report. Detailed information on the Group’s effected. In order to qualify for entitlement to the second sustainability performance is provided in the Sustainability interim dividend, all transfer forms accompanied by the Report 2023 of the Company. 120