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ICI » Topics » Borrowing Powers

This excerpt taken from the ICI 20-F filed Mar 31, 2006.

Borrowing Powers

Directors may exercise all borrowing powers of the Company, subject to the limitation that the aggregate principal amount from time to time outstanding of all the sums borrowed by the Company and its subsidiaries, exclusive of intra-group borrowings, may not, without the previous sanction of an ordinary resolution, exceed an amount equal to 2 1/2 times an adjusted capital and reserves figure calculated in the manner prescribed in the Articles.

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