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GUARDIAN MEDIA LIMITED AND ITS SUBSIDIARIES ANNUAL REPORT 2020 17REPORT OF THE DIRECTORSThe Directors have pleasure in presenting their Report to the Members together with the Audited Financial Statements for the year ended 31 December 2020(Expressed in Thousands of Trinidad and Tobago Dollars, except where otherwise stated).RESULTS FOR THE YEAR 2020$ $Total comprehensive loss for the year (6,454)Deduct:Dividend paid:PREFERENCE - Final 2019 - 2% 29Interim 2020 - 3% 44ORDINARY - Final 2019 - 0 cents per share 0Interim 2020 - 0 cents per share 0 (73)Loss for the year (6,527)Retained Earnings and other reserves brought forward 226,774Retained Earnings and other reserves at 31 December 2020 220,247DIVIDENDSAn Interim Dividend of 3% was paid to participating Preference Shareholders and zero ($0.00) cents was paid to Ordinary Shareholders in November 2020. The Directors have declared Final Dividends of 3% and 5 cents per share to be paid to Preference and Ordinary Shareholders respectively, who are on the Register of Members on 25 May 2021. Dividends will be paid on 16 June 2021.DIRECTORSIn accordance with By-Law No. 1, paragraph 4.3.2, Mr. Peter Clarke, Mr. Jeremy Matouk and Professor Brian Copeland retire from the board and being eligible, offer themselves for re-election.AUDITORSErnst & Young have expressed their willingness to continue in office.BY ORDER OF THE BOARDHema Ramdass-Chatoor Company Secretary19th March 2021