Capitalisation of Profits or Reserves. (i) If and whenever the Company shall issue any Shares credited as fully paid to the Shareholders by way of capitalisation of profits or reserves including Shares paid up out of distributable profits or reserves and/or share premium account (save where Shares are issued in lieu of the whole or any part of a specifically declared cash dividend (the “Relevant Cash Dividend”), being a dividend which the Shareholders concerned would or could otherwise have received (a “Scrip Dividend”)) and which would not have constituted a Distribution, the Conversion Price shall be adjusted by multiplying the Conversion Price in force immediately before such issue by the following fraction: where: A is the aggregate nominal amount of the issued Shares immediately before such issue; and B is the aggregate nominal amount of the issued Shares immediately after such issue. Such adjustment shall become effective on the date of issue of such Shares or if the number of such Shares is fixed on announcement and a record date is fixed therefor, immediately after such record date.
(ii) In the case of an issue of Shares by way of a Scrip Dividend where the Current Market Price of such Shares on the last trading day preceding the date of the announcement of the terms of such issue of such Shares exceeds the amount of the Relevant Cash Dividend or the relevant part thereof and which would not have constituted a Distribution, the Conversion Price shall be adjusted by multiplying the Conversion Price in force immediately before the issue of such Shares by the following fraction: 𝐴 + 𝐶 where: A is the aggregate nominal amount of the issued Shares immediately before such issue; B is the aggregate nominal amount of Shares issued by way of such Scrip Dividend multiplied by a fraction of which (i) the numerator is the amount of the whole, or the relevant part, of the Relevant Cash Dividend and (ii) the denominator is such Current Market Price of the Shares issued by way of Scrip Dividend in respect of each existing Share in lieu of the whole, or the relevant part, of the Relevant Cash Dividend; and C is the aggregate nominal amount of Shares issued by way of such Scrip Dividend, Such adjustment shall become effective on the date of issue of such Shares or if a record date is fixed therefor, immediately after such record date.
Capitalisation of Profits or Reserves. (i) If and whenever the Company shall issue any Shares credited as fully paid to the holders of Shares (“Shareholders”) by way of capitalisation of profits or reserves (including, Shares issued and paid up out of distributable profits or reserves and/or share premium account (except any Scrip Dividend) and which would not have constituted a Capital Distribution, the Conversion Price shall be adjusted by multiplying the Conversion Price in force immediately before such issue by the followingfraction:
Capitalisation of Profits or Reserves. (a) If and whenever the Company shall issue any Company Shares credited as fully paid to the holders of the Company Shares (the “Company Shareholders”) by way of capitalisation of profits or reserves (including any share premium account) including Company Shares paid up out of distributable profits or reserves and/or share premium account (except any Scrip Dividend) and which would not have constituted a Distribution, the Exchange Price shall be adjusted by multiplying the Exchange Price in force immediately before such issue by the following fraction:
A — B
Capitalisation of Profits or Reserves. If and whenever the Issuer shall issue any Shares credited as fully paid to the Shareholders by way of capitalisation of profits or reserves (including any share premium account) including Shares paid up out of distributable profits or reserves and/or share premium account issued, save where Shares are issued in lieu of the whole or any part of a specifically declared cash Dividend (the “Relevant Cash Dividend”), being a Dividend which the Shareholders concerned would or could otherwise have received and which would not have constituted a Capital Distribution (a “Scrip Dividend”), the Conversion Price shall be Adjusted by multiplying the Conversion Price in force immediately before such issue by the following fraction:
Capitalisation of Profits or Reserves. For so long as any Conversion Right remains exercisable, the Issuer shall not issue or pay up any securities, in either case, by way of capitalisation of profits or reserves, except:
(a) where such action gives rise (or would, but for the provisions of Condition 27 (Minor Adjustments and No Adjustments), give rise) to an adjustment to the Conversion Price;
(b) where such action constitutes a Dividend in Shares which does not give rise to an adjustment to the Conversion Price; or
(c) by the issue of fully paid equity share capital (other than Shares) to the holders of equity share capital of the same class and other persons entitled thereto.
Capitalisation of Profits or Reserves. (i) If and whenever the Company shall issue (other than pursuant to a scrip dividend scheme in lieu of a cash dividend) any Shares credited as fully paid by way of capitalisation of profits or reserves (including any share premium account or capital redemption reserve fund), the Warrant Subscription Price in force immediately prior to such issue shall be adjusted by multiplying it by the following fraction:
Capitalisation of Profits or Reserves. (i) If and whenever the Company will issues any Shares credited as fully paid to the holders of the Shares (the “Shareholders”) by way of capitalisation of profits or reserves (including Shares paid up out of distributable profits or reserves and/or share premium account) (other than (1) where any such Shares are or are to be issued instead of the whole or part of a Dividend in cash which the Shareholders would or could otherwise have elected to receive, (2) where the Shareholders may elect to receive a Dividend in cash in lieu of such Shares, or (3) where any such Shares are or are expressed to be issued in lieu of a Dividend (whether or not a cash Dividend equivalent or amount is announced or would otherwise by payable to Shareholders, whether at their election or otherwise), in which case Section 4.1.2(ii) applies), each of the Conversion Share Price and the NBV Price will be adjusted by multiplying each of the Conversion Share Price and the NBV Price in force immediately before such issue by the following fraction: where:
Capitalisation of Profits or Reserves. If and whenever the Company shall issue any Shares credited as fully paid by way of capitalisation of profits or reserves (including any share premium account fund), the Strike Price in force immediately prior to such issue shall be adjusted by multiplying it by the following fraction:
Capitalisation of Profits or Reserves. If and whenever the Company shall issue any Shares credited as fully paid to the Shareholders by way of capitalisation of profits or reserves (including any share premium account, contributed surplus and/or capital redemption reserve), other than a Scrip Dividend where the Market Value of the Shares issued in respect of each existing Share does not exceed the amount of the cash dividend (or the relevant part thereof where scrip is offered in place of part of the cash dividend (“relevant part”)) in respect of each existing Share, the Conversion Price shall be adjusted:
(1) in the case of an issue of Shares other than by way of a Scrip Dividend by multiplying the Conversion Price in force immediately prior to such issue by the following fraction: where : A is the aggregate nominal amount of issued Share immediately before such issue; and B is the aggregate nominal amount of issued Share immediately after such issue; and
(2) in the case of a Scrip Dividend where the Market Value of the Shares issued in respect of each existing Share is more than the amount of the cash dividend (or the relevant part thereto), by multiplying the Conversion Price in force immediately prior to such issue by the following fraction: where : A is the aggregate nominal amount of issued Shares immediately before such issue; B is the aggregate nominal amount of Shares issued by way of such Scrip Dividend multiplied by a fraction of which:
Capitalisation of Profits or Reserves. If and whenever the Company shall issue any Shares credited as fully paid to the Shareholders by way of capitalisation of profits or reserves (including any share premium account or capital redemption reserve fund), other than Shares issued in lieu of a cash dividend, the Conversion Price shall be adjusted by multiplying the Conversion Price in force immediately before such issue by the following fraction: where A is the aggregate nominal amount of the issued Shares immediately before such issue; and B is the aggregate nominal amount of the issued Shares immediately after such issue. Such adjustment shall become effective (if appropriate, retroactively) from the day following the record date of such issue.
