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|
|
2006 |
2005 |
| |
|
US$m |
US$m |
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|
|
| 41 |
FINANCIAL STATEMENTS OF BRAIT S.A.(CONTINUED) |
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| 41.3 |
Share capital |
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|
|
Authorised |
|
|
|
150 000 000 (2005:150 000 000) ordinary shares of no par value |
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|
|
Issued |
|
|
| |
110 487 321 (2005:102 255 732) ordinary shares of no par value |
165,7 |
153,4 |
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|
|
| 41.4 |
Distributable reserves |
|
|
|
At beginning of year |
7,2 |
35,3 |
|
Profit/ (loss) for the year |
2,2 |
(3,8) |
|
Prior year result to be allocated |
– |
(4,2) |
|
Dividends paid |
(14,5) |
(20,1) |
|
Transfer from share premium |
40,0 |
– |
| |
At end of the year |
34,9 |
7,2 |
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| 41.5 |
Significant accounting policies |
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| |
| – |
Significant accounting policies for the company are consistent with those disclosed for the group,except for unrealisedgains which have been excluded from income in accordance with Luxembourg Law. |
| – |
The carrying value of subsidiaries is reflected at the lower of cost or fair value,where the write-down below cost is considered permanent. The sale by the company of a 26% share in its South African operation has been recorded as a sale. |
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