Allotment and Issue. (a) Within the limitations of this Article 5, the Registrar and Transfer Agent, on the direction of the Manager, shall allot and issue Units at such time or times at such price and in such manner, and to such Person or Persons as the Manager in its sole discretion shall determine, having regard to such matters as would be considered by the board of directors of a CBCA Corporation when issuing shares in comparable circumstances.
(b) Notwithstanding Subsection 5.1(a), the Trust’s initial public offering of Units shall be made at a price of $10.00
Allotment and Issue. The Trustees may allot and issue Units at such time or times and in such manner (including pursuant to any plan from time to time in effect relating to reinvestment by Unitholders of their distributions of the Trust in Units), and for such consideration and to such person, persons or class of persons as the Trustees in their sole discretion shall determine. In the event that Units are issued in whole or in part for a consideration other than money, the resolution of the Trustees allotting and issuing such Units shall express the fair equivalent in money of the other consideration received.
Allotment and Issue. (a) Within the limitations of this Article 5, the Registrar and Transfer Agent, on the direction of the Trust, shall allot and issue Units at such time or times at such price and in such manner, and to such Person or Persons as the Trust shall determine, having regard to such matters as would be considered by the board of directors of a CBCA Corporation when issuing shares in comparable circumstances.
(b) Notwithstanding Subsection 5.1(a), the Trust’s initial public offering of Units shall be made at a price not exceeding $15 per Unit or such other price as the Trustee may approve. The Trust shall not direct the Registrar and Transfer Agent to allot and issue Units subsequent to the Trust’s initial public offering (i) unless the Trust receives a gross amount per Unit of not less than 100% of the most recently calculated Net Asset Value per Unit prior to, or upon, the determination of the pricing of such issuance; or (ii) except by way of Unit distribution in connection with an income distribution. Immediately after a pro rata distribution of Units to all Unitholders in satisfaction of any non-cash distribution, the number of outstanding Units will be consolidated as described in Section 4.3 hereof such that each Unitholder will hold, after the consolidation, the same number of Units as the Unitholder held before the non-cash distribution, subject to any reduction contemplated in Section 4.5 where withholding is required. Subject to the foregoing, the Trust may also allot and issue additional Units at such time or times, and in such manner, as the Trust may determine.
(c) Pursuant to Section 2.1, the Initial Unit shall be issued to the Initial Unitholder as fully paid in respect of the initial contribution to the Trust by the Trustee in order to settle the Trust as a trust. Subscriptions for Units to be issued in any offering subsequent to the Trust’s initial public offering will be subject to rejection or allotment by the Trust in whole or in part. If the subscription is not approved, the subscriber shall be advised within two days of the receipt of the subscription and forthwith return to the subscriber the amount tendered by the subscriber with his, her or its subscription without interest.
Allotment and Issue. (a) Within the limitations of this Article 5, the Registrar and Transfer Agent, on the direction of the Trust, shall allot and issue Units at such time or times at such price and in such manner, and to such Person or Persons as the Trust shall determine, having regard to such matters as would be considered by the board of directors of a CBCA Corporation when issuing shares in comparable circumstances.
(b) Notwithstanding Subsection 5.1(a), the Trust’s initial public offering of Units shall be made at a price not exceeding $15 per Unit or such other price as the Trustee may approve. The Trust shall not direct the Registrar and Transfer Agent to allot and issue Units subsequent to the Trust’s initial public offering (i) unless the Trust receives a per Unit offering price, after deducting underwriting fees, commissions and offering expenses, of not less than 100% of the most recently calculated Net Asset Value per Unit on the Business Day prior to, or upon, the determination of the pricing of such issuance; or (ii) except by way of Unit distribution in connection with an income distribution. Immediately after a pro rata distribution of Units to all Unitholders in satisfaction of any non-cash distribution, the number of outstanding Units will be consolidated as described in
Allotment and Issue. The Securities have been duly and validly allotted and issued or created and are outstanding as fully paid and non-assessable;
Allotment and Issue. 7.1 Subject to the fulfilment or waiver of the Conditions Precedent, the Company shall, not later than 4:00 p.m. on the Settlement Date, duly allot and issue the Rights Shares validly accepted and applied for and paid for and shall issue certificates for the Rights Shares to the relevant subscribers in accordance with the terms of the Prospectus Documents.
7.2 The Underwritten Shares taken up by the Underwriter or for which they have procured subscription as provided in Clause 5.3 will be duly allotted and issued and certificates in respect thereof, or evidence that the same has been deposited into investor participant or CCASS participant stock account designated by the Underwriter, will be delivered to the Underwriter or as they may direct as soon as is reasonably practicable following receipt by the Company of payment as provided in Clause 5.4, in accordance with Clause 5.5.
Allotment and Issue. 7.1 Subject to the fulfilment of the Conditions Precedent, the Company shall by not later than 4:00 p.m. on the Settlement Date duly issue and allot the entire portfolio of the Rights Shares as well as the share certificates therefor to the respective subscribers in accordance with the terms of the Prospectus Documents and shall procure the name(s) of the respective subscribers of the Rights Shares (or, where appropriate, HKSCC Nominees Limited) be entered into the register of members of the Company as holders of the appropriate number of Rights Shares.
Allotment and Issue. The events set out in this clause 5 shall occur within 7 (seven) days of the date on which the Claw-back Offer closes for acceptances in terms of the Circular:
5.1 DRDGOLD shall allot and issue that number of the Offer Shares subscribed and paid for pursuant to the Claw-back Offer, and shall ensure that all amounts received in respect of such subscriptions are held separately from all other funds of DRDGOLD in a bank account established solely for such purpose, and that such subscription amounts are to be held to the order of the Underwriters and used first in satisfying in full DRDGOLD’s payment obligations under clause 5.3 below.
5.2 DRDGOLD shall allot and issue to the Underwriters, in the proportions set out in Schedule 1, that number of the Offer Shares which have not been subscribed and paid for pursuant to the Claw-back Offer. If the implementation of this clause 5.2 results in any of the Underwriters becoming entitled to be allotted and issued with a fraction of a share, DRDGOLD shall be entitled to make such adjustments to the number of shares to be allotted and issued to the Underwriters in terms of this clause 5.2 as may be equitable in the circumstances and necessary to eliminate such fraction.
5.3 DRDGOLD shall pay, by electronic transfer to the accounts notified in writing by BSCM to DRDGOLD, to each Underwriter an amount equal to the product of the Offer Price and the difference between the number of shares subscribed for by that Underwriter in terms of clause 3 and the number of shares issued to it in terms of clause 5.2.
5.4 In the event that allotment and issue in terms of this clause 5 has not occurred by 22 August 2005 the underwriting obligations of the Underwriters shall terminate, and all amounts paid by the Underwriters in terms of clause 3 shall be repaid by DRDGOLD to the Underwriters mutatis mutandis in accordance with clause 5.3 and shall immediately be due.
Allotment and Issue. The General Partner may allot and issue Units at such time or times and in such manner and for such consideration and to such person, persons or class of persons as the General Partner in its sole discretion shall determine. In the event that Units are issued in whole or in part for consideration other than money, the resolution of the General Partner allotting and issuing such Units shall express the fair equivalent in money of the consideration received. The price or value of the consideration for which Units may be issued will be determined by the General Partner in its sole discretion, generally in consultation with investment dealers or brokers who may act as underwriters or agents in connection with offerings of Units.
Allotment and Issue. 7.1 Subject to the fulfilment or waiver of the Conditions Precedent, the Company shall, no later than the date of despatch of certificates for fully-paid Rights Shares to be stated in the Prospectus, duly allot and issue the Rights Shares validly accepted and applied for and paid for and shall issue certificates for the Rights Shares to the relevant subscribers in accordance with the terms of the Rights Issue Documents.
7.2 The Underwritten Shares taken up by the Underwriter or for which they have procured subscription as provided in Clause 5.3 will be duly allotted and issued and certificates in respect thereof, or evidence that the same has been deposited into investor participant or CCASS participant stock account designated by the Underwriter, will be delivered to the Underwriter or as they may direct as soon as is reasonably practicable but in any event no later than the date of despatch of certificates for fully-paid Rights Shares to be stated in the Prospectus upon the payment made by the Underwriter to the Company as provided in Clause 5.4, in accordance with Clause 5.5.
