Annual Report 2019

126 Transport International Holdings Limited 2019 Annual Report Directors’ Report Distributability of reserves At 31 December 2019, the aggregate amount of reserves available for distribution to equity shareholders of the Company was HK$2,305,392,000 (2018: HK$2,308,376,000). After the end of the reporting period, the Directors proposed a final dividend of HK$0.70 per share (2018: HK$0.90 per share), amounting to HK$312,859,000 (2018: HK$391,138,000) (note 11(a)). This dividend has not been recognised as a liability at the end of the reporting period. Directors The Directors during the financial year and up to the date of this report were: Dr Norman LEUNG Nai Pang*, GBS, JP (Chairman) Dr John CHAN Cho Chak*, GBS, JP (Deputy Chairman) Raymond KWOK Ping Luen, JP NG Siu Chan William LOUEY Lai Kuen Charles LUI Chung Yuen, M.H. Winnie NG, JP (Director and Alternate Director to Mr NG Siu Chan) Dr Eric LI Ka Cheung*, GBS, OBE, JP Professor LIU Pak Wai*, SBS, JP Allen FUNG Yuk Lun Roger LEE Chak Cheong (Managing Director) TSANG Wai Hung*, GBS, PDSM, JP Dr CHEUNG Wing Yui, BBS LEE Luen Fai, JP LUNG Po Kwan Susanna WONG Sze Lai (Alternate Director to Mr Raymond KWOK Ping Luen, JP) GAO Feng (Alternate Director to Mr William LOUEY Lai Kuen) * Independent Non-executive Director In accordance with the Company’s Bye-laws 87(1) and Appendix 14 of the Listing Rules, Dr John Chan Cho Chak, Mr Ng Siu Chan, Mr Allen Fung Yuk Lun and Mr Roger Lee Chak Cheong will retire from the Board at the forthcoming Annual General Meeting of the Company and, being eligible, offer themselves for re-election. Brief biographical details of the Directors of the Company are set out on pages 116 to 122 of this Annual Report. Indemnity provision The Bye-laws of the Company provides that every Director shall be indemnified out of the assets and profits of the Company from and against actions and liability which he/she may incur or sustain in or about the execution of the duties of his/her office. The Company has taken out insurance against the liabilities and costs associated with defending any proceedings which may be brought against the Directors of the Group.