Annual Report 2025

250 Transport International Holdings Limited 2025 Annual Report NOTES TO THE FINANCIAL STATEMENTS (Expressed in Hong Kong dollars unless otherwise indicated) 31 Capital and reserves (continued) (b) Share capital (i) Authorised and issued share capital 2025 2024 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 508,901,425 508,901 494,343,118 494,343 Share issued in respect of scrip dividend – 2023 final dividend – – 14,558,307 14,558 Share issued in respect of scrip dividend – 2024 final dividend 17,016,568 17,016 – – Share issued in respect of scrip dividend – 2025 interim dividend 8,340,690 8,341 – – Issuance of shares upon exercise of share options 281,600 282 – – At 31 December 534,540,283 534,540 508,901,425 508,901 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 2025, options were exercised to subscribe for 281,600 ordinary shares in the Company at a consideration of $2,985,000, of which $282,000 was credited to the share capital account and the balance of $2,703,000 was credited to the share premium account. $225,000 was transferred from the capital reserve to the share premium account upon exercise in accordance with policy set out in note 1(x)(iii). (c) Nature and purpose of reserves (i) Share premium The application of the share premium account is governed by the Company’s Bye-laws and the Companies Act 1981 of Bermuda. (ii) Capital reserve The capital reserve comprises the portion of the grant date fair value of unexercised share options granted to the Directors of the Company and certain employees of the Group that has been recognised in accordance with the accounting policy adopted for share-based payments in note 1(x)(iii). (iii) Exchange reserve The exchange reserve comprises all foreign exchange differences arising from the translation of the financial statements of entities outside Hong Kong. The reserve is dealt with in accordance with the accounting policy set out in note 1(w).