Slide 14 of the AGM presentation. Whilst it is far from clear...

Slide 14 of the AGM presentation. Whilst it is far from clear that the management and board really do intend to pay a dividend - given the wording of slide 14 (see below) the then Chairman, Andrew Smith, made it pretty clear that they would pay a dividend. However - it turns out that he was lying - or being mislead by his Chinese master!!!!

Slide 14
Ø The Board of XPD resolved on 29 May 2017 to adopt a dividend policy under which XPD will endeavour to maintain an annual minimum dividend payment ratio of 20% of net profit after tax for 2017 and ongoing. Ø In determining an appropriate dividend payment, XPD will consider, among other things: • Legal and prudential requirements; and • Cash flow requirements for investing and balance sheet activity
Ø In addition, the Board maintains the discretion to determine whether or not a dividend is payable and the amount of any dividend payment