Incredimail 2012 Annual Report Download - page 154

DIVIDENDS AND RESERVES
Subject to the provisions of the Law, the Board may from time to time declare such dividends and cause the Company to pay such
dividends. The Board shall have the full authority to determine the time for payment of such dividends, and the record date for
determining the Shareholders entitled thereto, provided such date is not prior to the date of the resolution to distribute the dividend and
no Shareholder who shall be registered in the Shareholders Register with respect to any shares after the record date so determined shall
be entitled to share in any such dividend with respect to such shares.
Dividends shall be paid out of the profits of the Company, as defined in the Law, or in accordance with Section 303 of the
Law.
Subject to any special or restricted rights conferred upon the holders of shares as to dividends, any dividend paid by the Company shall
be allocated among the Shareholders entitled thereto in proportion to the sums paid up or credited as paid up on account of the nominal
value of their respective holdings of the shares in respect of which such dividend is being paid without taking into account the premium
paid up for the shares. The amount paid up on account of a share that has not yet been called for payment or fallen due for payment and
upon which the Company pays interest to the shareholder shall not be deemed, for the purposes of this Article, to be a sum paid on
account of the share.
No dividend shall bear interest as against the Company.
63.
Declaration of Dividends
64.
Funds Available for Payment of Dividends
65.
Amount Payable by Way of Dividends
66.
Interest
67.
Payment in Kind
67.1. A dividend may be paid, wholly or partly, by the distribution of specific assets, and, in particular, by distribution of paid-
up
shares, debentures of the Company or debentures of any other company, or in any one or more such ways.
67.2.
The Board may resolve that: (a) any monies, investments, or other assets forming part of the undivided profits of the
Company standing to the credit of the reserve fund, or to the credit of any reserve fund for the redemption of capital, or to
the credit of a reserve fund for the revaluation of real estate or other assets of the Company or any other reserve fund or
investment funds or assets in the hands of the Company and available for dividends, or representing premiums received on
the issue of shares and standing to the credit of the share premium account, be capitalized and distributed among such of the
Shareholders as would be entitled to receive the same if distributed by the way of dividend and in the same proportion on the
basis that they become entitled thereto as capital; (b) all or any part of such capitalized fund be applied on behalf of such
Shareholders in paying up in full, either at nominal or at such premiums as the resolution may provide, any unissued shares
or debentures of the Company that shall be distributed accordingly or in or towards the payment, in full or in part, of the
uncalled liability on any issued shares or debentures of the Company; and (c) such distribution or payment shall be accepted
by such Shareholders in full satisfaction of their share and interest in the said capitalized sum.
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