Examples of Special Dividend in a sentence
If the Partial Offer lapses, or if, after the Partial Offer becomes or is declared unconditional in all respects, the Warehouse Sale Agreement does not complete because the Company, the Controlling Shareholders or their respective subsidiaries breach their respective closing obligations in the Warehouses Sale Agreement, the Special Dividend will not be paid.
The Directors (excluding the members of the LR Independent Board Committee and the Code Independent Board Committee whose view will be given after having been advised by the Independent Financial Adviser) believe that the Warehouses Sale and the distribution of the Special Dividend are fair and reasonable and in the best interests of the Company and its Shareholders as a whole given the public markets have not previously ascribed meaningful value to the underlying real estate assets held by the Group.
Conditional upon completion of the Warehouses Sale (which is in turn conditional upon, amongst other conditions, the Partial Offer becoming or being declared unconditional in all respects), the Company will distribute substantially all of the proceeds from the Warehouses Sale and declare the Special Dividend of HK$7.28 per Share to all those Shareholders who are Shareholders of record on the Record Date (i.e. the date immediately prior to the Final Closing Date).
This will boost Shareholder returns through the crystallisation of the value of the relevant warehouses and the subsequent distribution of the sale proceeds via the Special Dividend.
Prior to the Closing, AIG, acting through the AIG Board, shall declare a special stock dividend (the “Special Dividend”) of warrants to purchase up to an aggregate of 75 million shares of AIG Common Stock at an initial exercise price of $45.00 per share (the “Warrants”) to the holders of record of AIG Common Stock on the record date for the Special Dividend (excluding any shares of AIG Common Stock held by AIG as treasury shares or by Subsidiaries of AIG).