1. Shareholders and Related-party Transactions
1.2 Relations with related parties and related-party transactions
1.2.1 Relations with related parties
During the reporting period, the Bank does not have related parties with control. Related parties having significant impact on the Bank include key management (including directors and senior management) and their close family members, the companies of the Bank's key management personnel and their close family members which can exert significant impact on the company, as well as major shareholders having significant impact on the operating or financial policies of the Bank.
1.2.2 Related-party transaction and balance
As of Dec. 31, 2008, the balance of loan obtained by related parties from the Bank is nil.
2. Matters after balance sheet date
2.1 On February 27, 2009, the Bank held the first extraordinary general meeting in 2009. The meeting adopted the proposal on the establishment of BEIBU GULF Township Bank, with the Bank as the sponsor and investor who invested no more than 35 million yuan (holding no more than 70% of the total equity capital) via voting. The organization plans to form the Township Bank as a limited liability company. Its registered capital that was all monetary capital was projected as 50 million yuan.
2.2 On April 7, 2009, the Bank held the fourth meeting of the first session of Board of Directors. The meeting deliberated and adopted the 2008 Profit Distribution Plan of GUANGXI ***BANK CO., LTD. projected to retain 60 million yuan in revenue for dividends.