Annual Report 2019

125 Transport International Holdings Limited 2019 Annual Report Directors’ Report The Directors submit herewith their Annual Report together with the audited financial statements for Transport International Holdings Limited (“the Company”) and its subsidiaries (collectively referred to as “the Group”) for the year ended 31 December 2019. Principal place of business The Company was incorporated in Bermuda and is domiciled in Hong Kong and has its registered office at Clarendon House, 2 Church Street, Hamilton HM 11, Bermuda and principal place of business at 15/F, 9 Po Lun Street, Lai Chi Kok, Kowloon, Hong Kong. Principal activities and business review The principal activity of the Company is investment holding and the principal activities of the Group are the operation of both franchised and non-franchised public transportation and property holdings and development. Particulars of the Company’s principal subsidiaries are set out in note 16 to the financial statements. The Group’s revenue and profit are mainly attributable to franchised bus operations. The analysis of the principal activities of the Group during the financial year is set out in note 12 to the financial statements. Further discussion and analysis of these activities as required by Schedule 5 to the Hong Kong Companies Ordinance, including a discussion of the principal risks and uncertainties facing the Group, an indication of likely future developments in the Group’s business, a discussion of the Group’s environmental policies and performance, and its compliance with the relevant laws and regulations that have a significant impact on the Group and an account of the Group’s key relationships with its employees, customers and suppliers that have a significant impact on the Group can be found in the Management Discussion and Analysis set out on pages 18 to 115 of this Annual Report. This discussion forms part of this Directors’ Report. Recommended dividend An interim dividend of HK$0.30 per share (2018: HK$0.30 per share) was paid to the shareholders on 15 October 2019. This included a scrip dividend alternative to allow shareholders to elect to receive the dividend wholly or partly in the form of new fully paid shares in lieu of cash. The Directors now recommend that a final dividend of HK$0.70 per share (2018: HK$0.90 per share) in respect of the year ended 31 December 2019 be paid to shareholders on 30 June 2020. Charitable donations Charitable donations made by the Group during the year amounted to HK$2,610,000 (2018: HK$12,000,500). Share capital Details of the movements in share capital of the Company during the year are set out in note 29(b)(i) to the financial statements. Shares were issued during the year on exercise of share options and scrip dividend scheme. Details about the issue of shares are also set out in note 29(b)(i) to the financial statements.