Common use of DIVIDENDS AND RESERVES Clause in Contracts

DIVIDENDS AND RESERVES. 27.1 Subject to the Statute and any rights and restrictions for the time being attached to any class or series of shares, the Board of Directors may from time to time declare dividends (including interim dividends) on the shares issued and authorize payment of the same out of the funds of the Company lawfully available therefor. 27.2 Subject to the Statute and any rights and restrictions for the time being attached to any class or series of shares, all dividends shall be declared and paid according to the amounts paid or credited as paid on the shares in respect of which the dividend is paid. Subject to the Statute and any rights and restrictions for the time being attached to any class or series of shares, all dividends shall be apportioned and paid proportionately to the amounts paid or credited as paid on the shares during any portion or portions of the period in respect of which the dividend is paid but if any share is issued on terms providing that it shall rank for dividend as from a particular date such share shall rank for dividend accordingly. 27.3 If several persons are registered as joint holders of any share, any of them may give effectual receipts for any dividends, bonuses or other moneys payable on or in respect of the share. 27.4 The Board of Directors may deduct from any dividend payable to any Member all sums of money (if any) presently payable by him to the Company. 27.5 The Board of Directors may declare that any dividend be paid wholly or partly by the distribution of shares or other securities of the Company and/or specific assets and in particular of shares, debentures or debenture stock of any other company or in any one or more of such ways, and where any difficulty arises in regard to such distribution, the Board of Directors may settle the same as it deems expedient and in particular may issue fractional shares and fix the value for distribution of such specific assets or any part thereof and may determine that cash payments shall be made to any Members upon the footing of the value so fixed in order to adjust the rights of all Members and may vest any such specific assets in trustees as may seem expedient to the Board of Directors. 27.6 No dividend shall bear interest against the Company unless expressly authorized by the Board of Directors.

DIVIDENDS AND RESERVES. 27.1 Subject to The Company in general meeting may declare dividends by ordinary resolution, but no dividend shall exceed the Statute and any rights and restrictions for amount recommended by the time being attached to any class or series of shares, the Board of Directors directors. The directors may from time to time declare pay to the members such interim dividends (including interim dividends) on as appear to the shares issued and authorize payment directors to be justified by the profits of the same Company. No dividend shall be paid otherwise than out of profits in accordance with the provisions of Part IIA of the Ordinance. The directors may, before recommending any dividend, set aside out of the funds net profits of the Company lawfully available therefor. 27.2 such sums as they think proper as reserve or reserves which shall, at the discretion of the directors, be applicable for any purpose to which the net profits of the Company may be properly applied, and pending such application may, at the like discretion, either be employed in the business of the Company or be invested in such investments as the directors may from time to time think fit. The directors may also retransfer such reserve or any part thereof to the credit of profit and loss account, or may without placing such sums to reserve carry forward any profit which they may think prudent not to divide. Subject to the Statute and any rights and restrictions for the time being attached of persons, if any, entitled to any class or series of sharesshares with special rights as to dividend, all dividends shall be declared and paid according to the amounts paid or credited as paid on the shares in respect of which whereof the dividend is paid. Subject to the Statute and any rights and restrictions , but no amount paid or credited as paid on a share in advance of calls shall be treated for the time being attached to any class or series purposes of shares, all this article as paid on the share. All dividends shall be apportioned and paid proportionately to the amounts paid or credited as paid on the shares during any portion or portions of the period in respect of which the dividend is paid paid; but if any share is issued on terms providing that it shall rank for dividend as from a particular date such share shall rank for dividend accordingly. 27.3 If several persons are registered as joint holders of any share, any of them may give effectual receipts for any dividends, bonuses or other moneys payable on or in respect of the share. 27.4 . The Board of Directors directors may deduct from any dividend payable to any Member member all sums of money (if any) presently payable by him to the Company on account of calls or otherwise in relation to the shares of the Company. 27.5 The Board . Any general meeting declaring a dividend or bonus may direct payment of Directors may declare that any such dividend be paid or bonus wholly or partly by the distribution of shares or other securities of the Company and/or specific assets and in particular of paid up shares, debentures or debenture stock of any other company or in any one or more of such ways, and the director shall give effect to such resolution, and where any difficulty arises in regard to such distribution, the Board of Directors directors may settle the same as it deems expedient they think expedient, and in particular may issue fractional shares certificates and fix the value for distribution of such specific assets or any part thereof and may determine that cash payments shall be made to any Members member upon the footing of the value so fixed in order to adjust the rights of all Members parties, and may vest any such specific assets in trustees as may seem expedient to the Board directors. Any dividend bonus interest or other money payable in cash in respect of Directors. 27.6 shares may be paid in such currency or currencies as determined by the directors, by cheque or warrant sent through the post directed to the registered address of the holder or, in the case of joint holders, to the registered address of that one of the joint holders who is first named on the register of members or to such person and to such address as the holder or joint holders may in writing direct. Every such cheque or warrant shall be made payable to the order of the person to whom it is sent. Any one of 2 or more joint holders may give effectual receipts for any dividend, bonus, interest or other money payable in respect of the shares held by them as joint holders. No dividend shall bear interest against the Company unless expressly authorized by the Board of DirectorsCompany.

DIVIDENDS AND RESERVES. 27.1 30.1 Subject to the Statute and any rights and restrictions for the time being attached to any class or series of shares, the Board of Directors may from time to time declare dividends (including interim dividends) on the shares issued and authorize payment of the same out of the funds of the Company lawfully available therefor. 27.2 30.2 Subject to the Statute and any rights and restrictions for the time being attached to any class or series of shares, all dividends shall be declared and paid according to the amounts paid or credited as paid on the shares in respect of which the dividend is paid, but no amount paid or credited as paid on a share in advance of calls shall be treated for the purposes of this Section 30.2 as paid on the share. Subject to the Statute and any rights and restrictions for the time being attached to any class or series of shares, all dividends shall be apportioned and paid proportionately to the amounts paid or credited as paid on the shares during any portion or portions of the period in respect of which the dividend is paid but if any share is issued on terms providing that it shall rank for dividend as from a particular date such share shall rank for dividend accordingly. 27.3 30.3 If several persons are registered as joint holders of any share, any of them may give effectual receipts for any dividends, bonuses or other moneys payable on or in respect of the share. 27.4 30.4 The Board of Directors may deduct from any dividend payable to any Member all sums of money (if any) presently payable by him to the CompanyCompany or account of calls or otherwise. 27.5 30.5 The Board of Directors may declare that any dividend be paid wholly or partly by the distribution of shares or other securities of the Company and/or specific assets and in particular of paid-up shares, debentures or debenture stock of any other company or in any one or more of such ways, and where any difficulty arises in regard to such distribution, the Board of Directors may settle the same as it deems expedient and in particular may issue fractional shares and fix the value for distribution of such specific assets or any part thereof and may determine that cash payments shall be made to any Members upon the footing of the value so fixed in order to adjust the rights of all Members and may vest any such specific assets in trustees as may seem expedient to the Board of Directors. 27.6 30.6 No dividend shall bear interest against the Company unless expressly authorized by the Board of Directors.