Annual Report 2019

217 Transport International Holdings Limited 2019 Annual Report Notes to the Financial Statements 29 Capital and reserves (continued) (a) Movements in components of equity (continued) The Company’s reserves available for distribution to shareholders at 31 December 2019 amounted to $2,305,392,000 (2018: $2,308,376,000). After the end of the reporting period, the Directors proposed a final dividend of $0.70 (2018: $0.90) per share, amounting to $312,859,000 (2018: $391,138,000). The final dividend proposed has not been recognised as a liability at the end of the reporting period. (b) Share capital (i) Authorised and issued share capital 2019 2018 No. of shares $’ 000 No. of shares $’ 000 Authorised: Ordinary shares of $1 each 600,000,000 600,000 600,000,000 600,000 Ordinary shares of $1 each, issued and fully paid: At 1 January 434,597,327 434,597 422,455,810 422,456 Shares issued in respect of scrip dividend – 2017 final dividend – – 9,171,689 9,172 Shares issued in respect of scrip dividend – 2018 interim dividend – – 2,969,828 2,969 Shares issued in respect of scrip dividend – 2018 final dividend 8,764,283 8,764 – – Shares issued in respect of scrip dividend – 2019 interim dividend 3,196,601 3,197 – – Shares issued under the share option scheme 382,800 383 – – At 31 December 446,941,011 446,941 434,597,327 434,597 The holders of ordinary shares are entitled to receive dividends as declared from time to time and are entitled to one vote per share at general meetings of the Company. All ordinary shares rank equally with regard to the Company’s residual assets. (ii) Shares issued under the share option scheme During the year ended 31 December 2019, 884,000 options were forfeited and options were exercised to subscribe for 383,000 ordinary shares in the Company at a consideration of $8,977,000, of which $383,000 was credited to the share capital account and the balance of $8,594,000 was credited to the share premium account. $704,000 has been transferred from the capital reserve to the share premium account in accordance with policy set out in note 1(x)(iv).