▾

External sources (not reviewed)

In the event of any substantial downgrading of credit rating or other material adverse change concerning a Base Securities Issuer, the Manager will take such measures and actions as reasonably and practicable available to it, including seeking additional collateral and/or additional Base Securities Issuers and/or sell the Base Securities back to the relevant Base Securities Issuer.

(2) Under-consumption: Income and wealth distribution tilts towards the capitalist class and against the middle and lower strata of the society.

The World Trade Organization also considers that in the absence of a fisheries management system among its member countries, all subsidies granted to the fisheries industry would be regarded as unfavourable to the sustainable fisheries development, and will in future be subject to constraints.

Income from the insurance business increased following the positive effect of market valuation changes in 2012 compared with the adverse market effects experienced in 2011, coupled with strong sales and renewals of life insurance products, partly offset by the nonrecurrence of the implementation benefit of the refinement of the calculation of the present value of in-force (‘PVIF’) long-term insurance business in 2011.

[...] [...] estate markets; adverse changes in central banks’ policies with respect to the provision of liquidity support to financial markets; heightened market concerns over sovereign creditworthiness in over-indebted countries; adverse changes in the [...] [...]

No disclosure of the total amount of revenue by each customer and number of customers are disclosed, as in the opinion of the Directors such disclosure is harmful to the Group’s business.

4.41 None of us, Associate or any Information Provider warrant or represent that the Internet/Banking Services, the Market Information and the Reports are free from virus or other destructive features which may adversely affect the hardware, software or equipment of you and, where applicable, the Authorized User.

In the period under review, the Group in particular faced the following adverse operating environments: (i) imported cost of alumina ran high because of rising fuel costs; (ii) increase in supply of domestically-produced alumina in the PRC, though slower than previous two years, still remained on the high side; and (iii) decreased demand for alumina as a result of the disruption in production of certain PRC aluminium smelters after snow storms in Southern China in early 2008 has caused a price slide of alumina.

Whilst the current REC prices in Australia do not support commercial investment in new wind farm developments right now, our Roaring 40s joint venture has strong capabilities and an attractive pipeline of wind farm opportunities for investment once market conditions are more favourable.

Since each historic building is unique and the demand and wish of each private owner are not the same, adopting a standardised proposal will not be conducive to the formulation of the most appropriate economic incentive in exchange for the conservation of the historic building concerned.

Whilst the outcome of such matters cannot be predicted with certainty, Prudential believes that the ultimate outcome of such litigation and regulatory issues will not have a material adverse effect on the Group’s financial condition, results of operations or cash flows.

2.4.3 In multispecies/multigear fisheries where there is poor gear selectivity and where most species caught are used, bycatch refers to that part of the catch that should not have been caught, inter alia, because of detrimental ecological and/or economic consequences.

Any such record may prejudice that organisation’s future SDF applications.

Applicants are reminded that a person who makes a false instrument, with the intention that he or another shall use it to induce somebody to accept it as genuine, and by reason of so accepting it to do or not to do some act to his own or any other person’s prejudice, commits the offence of forgery and is liable on conviction on indictment to imprisonment for 14 years under the Crimes Ordinance (Chapter 200 of the Laws of Hong Kong).

No member shall be entitled to require discovery of or any information respecting any detail of the Company’s trading or any matter which is or may relate to the conduct of the business of the Company and which in the opinion of the Directors will be inexpedient in the interests of the members of the Company to communicate to the public.

(6) Any amendment, repeal or modification of the foregoing provisions of this Article shall not adversely affect any right or protection hereunder of any Covered Person in respect of any act or omission occurring prior to the time of such repeal or modification.

(v) after the date of the Subscription Agreement or, if earlier, the dates as of which information is given in the Offering Circular up to and at the Closing Date and the Option Closing Date (if any), there not having occurred any change (nor any development or event expected to cause a change), in the financial condition, business prospects, results of operations or properties of the Issuer, the Company or the Group, which, in the opinion of the Lead Manager, is material and adverse in the context of the issue and offering of the Convertible Bonds

Despite the negative effect of a lower average exchange rate of Australian dollar, the earnings from Australia were boosted by improved electricity retail and gas gross margins and favourable Yallourn generation output.

which, individually or in the aggregate, in the sole opinion of the Placing Agents (1) has or will or is likely to have a material adverse effect on the assets, liabilities, business, general affairs, management, prospects, shareholders' equity, profits, losses, results of operations, position or condition, financial or otherwise, or performance of the Group as a whole; or (2) has or will have or is likely to have a material adverse - 5 effect on the success of the Placing; or (3) makes or will make or is likely to make it inadvisable or inexpedient or impracticable for any part of the Placing to be performed or implemented or proceed as envisaged; or

[...] rights conferred upon the holders of any [...] [...]

Except as otherwise expressly provided by the Bye-Laws or required by law or ordered by a court of competent jurisdiction, no person shall be recognised by the Company as holding any share upon any trust and the Company shall not be bound by or be compelled in any way to recognise (even when having notice thereof) any equitable, contingent, future or partial interest in any share or any interest in any fractional part of a share or (except only as otherwise provided by these Bye-Laws or by law) any other rights in respect of any share except an absolute right to the entirety thereof in the registered holder.

The Company shall be entitled to treat the registered holder of any share as the absolute owner thereof, and the Company shall not be bound by or recognise any trust or any equitable, contingent, future or partial interest in any share, or any interest in any fractional part of a share, or (except only as by these Articles otherwise expressly provided or as required by law) any other right in respect of any share except the absolute right of the registered holder to the entirety thereof.

In consideration of the Company’s long-term financial planning, demand for capital and intention to satisfy the stockholders’ cash flow, when after-tax earnings occurs, the distribution for annual cash dividends shall be greater than 10% of the current year’s total cash and stock dividends distribution.

The directors may provide benefits, whether by the payment of gratuities or pensions or by insurance or otherwise, for any director who has held but no longer holds any executive office or employment with the Company or with any body corporate which is or has been a subsidiary of the Company or a predecessor in business of the Company or of any such subsidiary, and for any - 33 member of his family (including a spouse and a former spouse) or any person who is or was dependent on him and may (as well before as after he ceases to hold such office or employment) contribute to any fund and pay premiums for the purchase or provision of any such benefit.

[...] [...] Environmental Affairs Paper reference CB(1) 418/07-08(07) dated 17 December 2007 (“Legislative Proposal”)) or any renewal of or change to any Specified Process Licence (other than to the amount of the Initial Cap or pursuant to the Legislative Proposal), which has a material effect on the Mechanism or HEC’s emissions performance or compliance with the Total Permissible Emissions, the Mechanism shall not apply to that Applicable Year and any subsequent Applicable Years until HEC and the Government have reached agreement as to the amendments to this Schedule that are required to give continued effect to the Mechanism.

[...] [...]