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ANNUAL REPORT 2023 39REPORT 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 2023. (Expressed in Thousands of Trinidad and Tobago Dollars, except where otherwise stated).RESULTS FOR THE YEAR 2023$ $Total comprehensive loss for the year (11,197)Deduct:Dividend paid:PREFERENCE %u2013 Final 2022 - 3% 44Interim 2023 - 3% 44ORDINARY %u2013 Final 2022 - 4 cents per share 1,600Interim 2023 - 0 cents per share 0 (1,688)Loss for the year (12,885)Retained Earnings and other reserves brought forward 228,430Retained Earnings and other reserves at 31 December 2023 215,545DIVIDENDSAn Interim Dividend of 3% was paid to participating Preference Shareholders and zero ($0.00) cents was paid to Ordinary Shareholders in November 2023. The Directors have declared Final Dividends of 3% and zero ($0.00) cents per share to be paid to Preference and Ordinary Shareholders respectively, who are on the Register of Members on 17 May 2024. Dividends will be paid on 14 June 2024.DIRECTORSIn accordance with By-Law No. 1, paragraph 4.3.2, Mr. Peter Clarke and Mr. Jeremy Matouk retire from the board and being eligible, offer themselves for re-election.