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through 1.8 million connections daily. Our bundled services offer our clients the right mix of platforms, incorporating all aspects of both traditional and digital media. 2020 will present challenges in view of the unprecedented uncertainty in global financial markets and economies due to the widespread impact of the COVID-19 pandemic. In 2020, we will continue to invest on enhancing the competitive appeal of our portfolio of brands in Print, TV, Radio and Digital to align with our changing customer needs, while closely managing controllable expenses. Our people are the bedrock of our Company and we will continue to invest in them to ensure business continuity and growth. These investments in product enhancement, sales excellence, cost containment and employee engagement will position Guardian Media to optimize on market opportunities whilst responding effectively to the threats posed by the uncertain business landscape created by the corona virus.Enhancing shareholders%u2019 values and capital preservation continue to be the core thrust of our operations. Given the loss position, your Board does not recommend payment of a dividend for 2019. 6% Preference Shareholders will receive a final dividend of 2%. The Board remains committed to creating value for shareholders and remains confident that by executing our strategy, delivering efficiencies, and investing carefully, dividend payments will resume once the Company returns to profitability. There were no changes to the composition of your Board during the financial year 2019. The unique circumstances of COVID-19 required a review of arrangements to hold our Annual General Meeting in May 2020. Given this, your Board has approved the postponement of the Annual General Meeting to a date to be notified.I would like to thank the Board of Directors for their contribution during the year. My sincere gratitude goes to our loyal management team and employees for their unrelenting commitment and dedication to Guardian Media. We look to all our shareholders to lend us their continuous and unwavering support as we leverage on all opportunities and overcome all challenges to ensure a strong and sustainable future.Peter ClarkePeter Clarke Chairman10 GUARDIAN MEDIA LIMITED AND ITS SUBSIDIARIES ANNUAL REPORT 2019