This excerpt taken from the ICI 6-K filed Mar 21, 2007.
Resolution 14: Disapplication of pre-emption rights
Resolution 14 will only be proposed if Resolution 13 is passed. Resolution 14 would, as in previous years, renew the Directors power to allot shares of up to a total nominal value of £59,735,933 (representing 5% of the issued share capital of the Company) for cash without having to offer them to Shareholders in proportion to their existing holdings. Again, as in previous years, it would also empower the Directors to issue shares in connection with a rights issue/open offer and take certain practical steps to facilitate such an issue. The Company has not issued more than 7.5% of its issued share capital for cash other than to existing Shareholders in any three-year rolling period.