Consolidation or Subdivision Clause Samples
The Consolidation or Subdivision clause defines the rights and procedures for combining multiple shares into a smaller number of shares (consolidation) or dividing shares into a larger number of shares (subdivision). Typically, this clause outlines how the company may adjust the number of shares held by shareholders without altering the overall value of their holdings, such as converting every two existing shares into one new share, or splitting one share into several new shares. Its core function is to provide flexibility in managing the company’s share capital structure, ensuring that changes in share denomination or quantity are handled fairly and transparently for all shareholders.
Consolidation or Subdivision. 2.01 In the event of any subdivision or change of NRGF's Common Shares at any time while this Agreement is in effect to a greater number of shares, NRGF shall deliver at the time of any acquisition by ▇▇▇▇▇▇ thereafter, such additional number of shares as would have resulted from such subdivision or change if such exercise of the rights, granted hereby had been exercised prior to the date of such subdivision or change.
2.02 In the event of any consolidation or change of NRGF's Shares at any time during the term of this Agreement, the number of shares deliverable by NRGF on any exercise thereafter of the rights granted hereby shall be reduced to such number of shares as would have resulted from such consolidation or change if such exercise of the rights granted pursuant to this Agreement had been completed prior to the date of such consolidation or change.
2.03 ▇▇▇▇▇▇ hereby represents and warrants:
Consolidation or Subdivision. If the Shares are consolidated or subdivided, the number of Shares to be issued upon Conversion, and the number of Bonus Instruments received pursuant to a Bonus Issue pursuant to clause 3.4, will be adjusted in the manner necessary to reflect that consolidation or subdivision.
Consolidation or Subdivision. If and whenever there shall be an alteration to the nominal value of the Shares as a result of consolidation or subdivision, the Conversion Price shall be adjusted by multiplying the Conversion Price in force immediately prior to such alteration by the following fraction:
Consolidation or Subdivision. If and whenever there shall be an alteration to the nominal amount of each of the Issuer Shares by reason of any consolidation or subdivision, the Conversion Price in force immediately prior to such consolidation or sub-division shall be adjusted by multiplying it by the followingfraction: 𝐴 where: A = the nominal amount of one Issuer Share immediately after such alteration; and B = the nominal amount of one Issuer Share immediately before such alteration. Each such adjustment (which, in the case of a consolidation, will result in an increase of the Conversion Price) shall be effective from the close of business on the Business Day immediately preceding the date on which the relevant consolidation or subdivision (as the case may be) becomes effective.
Consolidation or Subdivision. In the event of any subdivision or change of NRGF's Common Shares at any time while this Agreement is in effect to a greater number of shares, NRGF shall deliver at the time of any acquisition by ▇▇▇▇▇▇ thereafter, such additional number of shares as would have resulted from such subdivision or change if such exercise of the rights, granted hereby had been exercised prior to the date of such subdivision or change.
Consolidation or Subdivision. If and whenever there shall be an alteration to the nominal amount of each of the Shares by reason of any consolidation or subdivision, the Strike Price in force immediately prior thereto shall be adjusted by multiplying it by the following fraction: where: A = the nominal amount of one Share immediately after such alteration; and
Consolidation or Subdivision. If and whenever there shall be an alteration to the nominal value of the Shares as a result of consolidation or subdivision, the Exercise Price shall be adjusted by multiplying it by the following fraction: B where
A = the nominal amount of one Share immediately after such alteration; and
B = the nominal amount of one Share immediately before such alteration. Such adjustment shall become effective from the day following the record date of such consolidation or subdivision.
Consolidation or Subdivision