(c) The Board discussed China Yuchai's investment in Thakral Corporation Limited ("Thakral") and HL Global Enterprises Limited ("HLGE"). The Board informed the shareholders of its intention to divest its remaining stake in Thakral subject to market conditions. As disclosed in the Form 20-F for financial year 2012 which was filed by China Yuchai with the U.S. Securities and Exchange Commission on April 22, 2013, China Yuchai has, in early 2013, reduced its stake further in Thakral. China Yuchai currently has a 48.9% shareholding interest in HLGE and the Board will consider all options with regard to this investment in order to deliver value to shareholders.(d) Related to paragraph (c) above was the suggestion by a shareholder to utilize the funds raised from a sale of the Company's stakes in Thakral and HLGE to implement a share buyback plan. The Board explained that China Yuchai needed to maintain a prudent level of cash for its operations and strategic plans. The Company's principal source of cash flow is its share of dividends paid by GYMCL, a majority of which, upon receipt is paid out to the Company's shareholders as dividends. The Board believes the payment of dividends gives the best value to shareholders compared with a share buyback plan.
Results Of Annual General Meeting Held On August 2, 2013
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