Articles of Association PDF - Anglo American

deemed to have been issued and the amount (including any premium) of thesubscription moneys payable in respect thereof (not being moneys payablelater than six months after the date of allotment) shall to the extent sounderwritten be deemed to have been paid up on the date when the issue ofsuch shares was underwritten (or, if such underwriting was conditional, onthe date when it became unconditional);(iii)(iv)(v)(vi)making such adjustments as may be appropriate in respect of anydistribution declared, recommended or made by the Company or itssubsidiary undertakings (to the extent not attributable directly or indirectlyto the Company) out of profits earned up to and including the date of therelevant balance sheet to the extent that such distribution is not provided forin such balance sheet;making such adjustments as may be appropriate in respect of any variationin the interests of the Company in its subsidiary undertakings (including avariation whereby an undertaking becomes or ceases to be a subsidiaryundertaking) since the date of the relevant balance sheet;if the calculation is required for the purposes of or in connection with atransaction under or in connection with which any undertaking is to becomeor cease to be a subsidiary undertaking of the Company, making all suchadjustments as would be appropriate if such transaction had been carriedinto effect;excluding minority interests in subsidiary undertakings to the extent notalready excluded;104.4.4 moneys borrowed shall be deemed to include (to the extent that the same wouldnot otherwise fall to be taken into account):(i)(ii)(iii)(iv)the amount of all debentures allotted or issued (whether or not for cash) byany member of the Group which are not for the time being beneficiallyowned by a company within the Group;the nominal amount of any allotted or issued and paid up share capital(other than equity share capital) of any subsidiary undertaking which is abody corporate of the Company not for the time being beneficially ownedby other members of the Group;the amount of any other allotted or issued and paid up share capital and ofany other debentures or other borrowed moneys (not being shares ordebentures which or borrowed moneys the indebtedness in respect of whichis for the time being beneficially owned within the Group) the redemptionor repayment whereof is guaranteed (or is the subject of an indemnitygranted) by any member of the Group or which any member of the Groupmay be required to purchase;the minority proportion of moneys borrowed and owing to a partly-ownedsubsidiary undertaking by another member of the Group;A09099335/0.6/04 Mar 2008 - 38 -