Page
PART I
ITEM 1.
IDENTITY OF DIRECTORS, SENIOR MANAGEMENT AND ADVISERS
.........................................................
5
ITEM 2.
OFFER STATISTICS AND EXPECTED TIMETABLE
............................................................................................
5
ITEM 3.
KEY
INFORMATION.......................................................................................................................................................
5
3A.
Selected Financial Data
..................................................................................................................................................
5
3B.
Capitalization
And
Indebtedness......................................................................................................................................
7
3C.
Reasons For The Offer And Use Of Proceeds
...............................................................................................................
7
3D.
Risk
Factors
.......................................................................................................................................................................
7
ITEM 4.
INFORMATION ON THE
COMPANY.........................................................................................................................
18
4A.
History And Development Of The Company
..............................................................................................................
18
4B.
Business Overview
.........................................................................................................................................................
23
4C.
Organizational
Structure.................................................................................................................................................
35
4D.
Property, Plants And Equipment
..................................................................................................................................
36
ITEM 4A.
UNRESOLVED STAFF
COMMENTS........................................................................................................................
71
ITEM 5.
OPERATING AND FINANCIAL REVIEW AND PROSPECTS
..............................................................................
72
5A.
Operating Results
...........................................................................................................................................................
73
5B.
Liquidity And Capital Resources
................................................................................................................................
100
5C.
Research
And
Development, Patents And Licenses
Etc.............................................................................................
104
5D.
Trend
Information...........................................................................................................................................................
104
5E.
Off-Balance Sheet
Arrangements................................................................................................................................
104
5F.
Tabular Disclosure Of Contractual
Obligations.......................................................................................................
104
5G.
Safe
Harbor
.....................................................................................................................................................................
104
ITEM 6.
DIRECTORS, SENIOR MANAGEMENT AND
EMPLOYEES...............................................................................
105
6A.
Directors And Senior
Management...............................................................................................................................
105
6B.
Compensation
.................................................................................................................................................................
109
6C.
Board
Practices
................................................................................................................................................................
110
6D.
Employees.......................................................................................................................................................................
114
6E.
Share
Ownership...............................................................................................................................................................
115
ITEM 7.
MAJOR SHAREHOLDERS AND RELATED PARTY TRANSACTIONS
............................................................
117
7A.
Major
Shareholders..........................................................................................................................................................
117
7B.
Related Party Transactions
...........................................................................................................................................
118
7C.
Interests Of Experts And Counsel
................................................................................................................................
120
ITEM 8.
FINANCIAL INFORMATION
......................................................................................................................................
121
8A.
Consolidated Statements And Other Financial
Information....................................................................................
121
8B.
Significant Changes
........................................................................................................................................................
121
ITEM 9.
THE OFFER AND LISTING
...........................................................................................................................................
122
9A.
Offer And Listing Details
................................................................................................................................................
122
9B.
Plan Of
Distribution.........................................................................................................................................................
122
9C.
Markets..............................................................................................................................................................................
123
9D.
Selling
Shareholders
.........................................................................................................................................................
123
9E.
Dilution
............................................................................................................................................................................
123
9F.
Expenses Of The
Issue.....................................................................................................................................................
123
ITEM 10.
ADDITIONAL
INFORMATION.....................................................................................................................................
124
10A.
Share
Capital......................................................................................................................................................................
124
10B.
Memorandum And Articles Of Association
................................................................................................................
124
10C.
Material
Contracts............................................................................................................................................................
126
10D.
Exchange
Controls.............................................................................................................................................................
130
10E.
Taxation
.............................................................................................................................................................................
132
10F.
Dividends And Paying Agents
.......................................................................................................................................
137
10G.
Statement
By
Experts
........................................................................................................................................................
137
10H.
Documents On
Display.....................................................................................................................................................
137
10I.
Subsidiary
Information
.....................................................................................................................................................
137
ITEM 11.
QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET
RISK............................................
138
ITEM 12.
DESCRIPTION OF SECURITIES OTHER THAN EQUITY SECURITIES
............................................................
140
PART II
ITEM 13.
DEFAULTS, DIVIDEND ARREARAGES AND DELINQUENCIES ...................................................................
141
ITEM 14.
MATERIAL MODIFICATIONS TO THE RIGHTS OF SECURITY HOLDERS AND USE OF PROCEEDS ..
141
ITEM 15.
CONTROLS AND
PROCEDURES................................................................................................................................
141
ITEM 16A.
AUDIT COMMITTEE FINANCIAL EXPERT
...........................................................................................................
142
ITEM 16B.
CODE OF ETHICS
..........................................................................................................................................................
142