ESR AR 2019 EN

99 DIRECTORS’ REPORT ESR Annual Report 2019 USE OF NET PROCEEDS FROM LISTING The Company´s Shares were listed on the Stock Exchange on 1 November 2019 by way of Global Offering and the net proceeds raised (after deduction of the underwriting fees and commissions and relevant expenses) from the listing of the Company on the Stock Exchange was approximately HK$4,461.5million (approximately US$570million). We have utilised approximately US$404million for repayment of Hana Notes and redemption of the previously unconverted Class C Preference Shares, and will continue to utilise the net proceed from the Global Offering in accordance with the purposes set out in the section headed “Future Plans and Use of Proceeds” in the prospectus of the Company dated 22 October 2019 (“Prospectus”). ENVIRONMENTAL POLICIES AND PERFORMANCE The Group is devoted to delivering a better and sustainable environment for the future of the society and the development of the Company. Details of our environmental policies and performance are disclosed in the “Environmental, Social and Governance Report” on pages 68 to 95 of this annual report. COMPLIANCE WITH THE RELEVANT LAWS AND REGULATIONS The Group complied with requirements under the Companies Ordinance, Securities and Futures Ordinance (“SFO”) and the Listing Rules. The Company also complied with other relevant laws and regulations that have a significant impact on the Company, including but not limited to the Cayman Companies Law, the Company Law of the People’s Republic of China (the “PRC”), the Wholly Foreign-owned Enterprise Law of the PRC, the Equity Joint Venture Law of the PRC, Asset Liquidation Act of Japan, Financial Investment Services and Capital Markets Act of the South Korea and the Securities and Futures Act of Singapore. For details, please refer to the section of “Regulatory Overview” in the Prospectus. During the year ended 31 December 2019, the Group did not commit any material non-compliance of the laws or regulations applicable to the Group.