Annual Report 2019

Corporate Governance Report 42 CHINA MERCHANTS PORT HOLDINGS COMPANY LIMITED COMMUNICATIONS WITH SHAREHOLDERS AND INVESTORS Dividend policy The Board has approved and adopted a dividend policy on 17 December 2018 (the “ Dividend Policy ”). Under the Dividend Policy, the Company may declare and pay dividends to the shareholders of the Company. Subject to compliance with applicable laws, rules, regulations and the Articles of Association, in deciding whether to propose any dividend payout, the Board will take into account, among other things, the financial results, the earnings, losses and distributable reserves, the operations and liquidity requirements, the debt ratio and possible effects on the credit lines, and the current and future development plans of the Company. There can be no assurance that dividends will be paid in any particular amount for any given period. General Meetings with Shareholders The Board recognises the importance of good communications with all shareholders. The Company’s annual general meeting is a valuable forum for the Board to communicate directly with the shareholders. The Chairman of the Board as well as Chairmen of the Audit and Remuneration Committees (or their duly appointed delegates) together with the external auditor are present to answer shareholders’ questions. Circulars which set out relevant information of the proposed resolutions are distributed to all shareholders at least 10 business days before the extraordinary general meeting and at least 20 business days before the annual general meeting. At the two extraordinary general meetings held on 25 February 2019 and 28 October 2019 and at the 2019 annual general meeting held on 3 June 2019, the Chairman of the meeting demanded that all resolutions proposed at the meeting to be voted by poll. The procedures for conducting a poll were explained at the meeting. The results of the poll were published on the websites of the Company and the Stock Exchange. The attendance of each Director at the general meetings held in 2019 is set out as follows: Name of Director Number of general meeting attended in 2019 Fu Gangfeng* 3 0/3 Deng Renjie* 4 N/A Su Jian 0/3 Xiong Xianliang 0/3 Bai Jingtao 3/3 Ge Lefu* 1 1/1 Wang Zhixian 2/3 Zheng Shaoping 1/3 Kut Ying Hay 2/3 Lee Yip Wah Peter 3/3 Li Kwok Heem John* 2 0/2 Li Ka Fai David 3/3 Bong Shu Ying Francis 2/3 *1 Mr. Ge Lefu was appointed as Executive Director of the Company on 5 June 2019. Therefore, he did not attend the extraordinary general meeting (the “EGM”) and annual general meeting (the “AGM”) on 25 February 2019 and 3 June 2019, respectively. *2 Mr. Li Kwok Heem John resigned as Independent Non-executive Director and all Committee Members of the Company on 5 June 2019. Therefore, he did not attend the EGM on 28 October 2019. *3 Mr. Fu Gangfeng resigned as Executive Director and Chairman of the Company on 13 February 2020. *4 Mr. Deng Renjie was appointed as Executive Director and Chairman of the Company on 13 February 2020, he did not attend the captioned general meetings held in 2019.