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Undistributable reserve

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Undistributable reserve


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The Company was unable to pay a dividend for 2009 as the Companies Act requires net assets to exceed the sum of share capital, share premium and undistributable reserves before a dividend can be paid.
As at 31 July 2004, realised net profits and the value of the Parent company's net assets as compared to its undistributable reserves, each needed to increase by approximately A[pounds sterling]280,000 before the requirements of sections 263 and 264 can be met.
The Board are not able to recommend the payment of a dividend until the Company's net assets exceed the sum of the share capital, share premium and undistributable reserves.
 
 
 
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