Increase of Capital. In case of capital increase of the New Company after its establishment, FACTS and SPAR shall have the pre-emptive right to new shares to be issued for such capital increase in proportion to their respective shareholdings in the New Company.
Increase of Capital. (a) The Company from time to time by ordinary resolution may increase the share capital by such sum, to be divided into Shares of such amount, as the resolution shall prescribe.
(b) Subject to the provisions of the Acts, the new Shares shall be issued to such persons, upon such terms and conditions and with such rights and privileges annexed thereto as the general meeting resolving upon the creation thereof shall direct and, if no direction be given, as the Directors shall determine and in particular such Shares may be issued with a preferential or qualified right to dividends and in the distribution of the assets of the Company and with a special, or without any, right of voting.
(c) Except so far as otherwise provided by the conditions of issue or by these Articles, any capital raised by the creation of new Shares shall be considered part of the pre-existing ordinary capital and shall be subject to the provisions herein contained with reference to calls and instalments, transfer and transmission, forfeiture, lien and otherwise.
Increase of Capital. 14.1 The Company may from time to time increase its capital by such sum to be divided into shares of such par value as the Company by Resolution shall prescribe.
14.2 The Company may, by the Resolution increasing the capital, direct that the new shares or any of them shall be offered in the first instance either at par or at a premium or (subject to the provisions of the Companies Acts) at a discount to all the holders for the time being of shares of any class or classes in proportion to the number of such shares held by them respectively or make any other provision as to the issue of the new shares.
14.3 The new shares shall be subject to all the provisions of these Bye-Laws with reference to lien, the payment of calls, forfeiture, transfer, transmission and otherwise. Bye-laws of Platinum Underwriters Holdings Ltd. 10 of 33
Increase of Capital. The Company from time to time by ordinary resolution may increase the share capital by such sum, to be divided into Shares of such amount, as the resolution shall prescribe.
Increase of Capital. 17.1 The Company may from time to time by Ordinary Resolution increase its share capital by such sum, to be divided into new Shares of such par value, and with such rights, priorities and privileges attached thereto as the resolution shall prescribe.
17.2 Subject to any directions given by the Company in a general meeting, all new Shares shall be at the disposal of the Directors in accordance with these Articles.
17.3 The new Shares shall be subject to the same provisions of these Articles with reference to the payment of calls, lien, forfeiture, transfer, transmission and otherwise, as the Shares in the original share capital.
Increase of Capital. The Board of Directors may increase the capital of the Company by issuing new shares or by increasing the par value of already issued shares. The Shareholders shall have the right to purchase new shares pro rata to their existing shareholdings, before such shares are offered to other Shareholders or future Shareholders.
Increase of Capital. I. The capital of the Company may be increased either by the issuance of new shares or by an increase in the nominal value of existing shares. New shares are issued, either for cash or set-off against due and payable debts on the Company or by incorporation of reserves, profits or issuance premiums, or by contributions in kind, or by conversion of bonds. New shares are issued either at their face value or at an amount increased by an issuance premium.
II. Only an extraordinary general shareholders meeting has the power, upon recommendation of the Board of Directors, to increase the capital. If the increase in capital is accomplished by incorporation of reserves, profits or issuance premiums the general meeting decides under the requirements of quorum and majority vote required for ordinary general meetings. An increase in capital by an increase in the nominal value of the shares can only be decided with the unanimous consent of the shareholders, unless it is done by incorporation of reserves, profits or issuance premiums. The general meeting can delegate to the Board of Directors the powers necessary to effect one or more increases in capital, to decide how such increase will take place, when they are completed, and proceed to the corresponding modifications of the charter.
III. An increase in capital must be completed within a time period of five (5) years from the general meeting which decided or authorized it.
IV. Increase of capital in cash:
(a) Conditions precedent -------------------- The former capital must be entirely paid in prior to the issuing of new shares for cash, or the increase can be declared null and void. If the new shares are paid in by means of set-off against debt, this must be evidenced by the Board of Directors approving the financial statements as certified as correct by the official auditors.
(b) Preferential right to subscribe -------------------------------
1. Each shareholder will have a preferential right to subscribe for newly issued shares of the same class of shares the shareholder is currently holding, proportionate to his share of the capital.
2. Shareholders will be informed of the issuance of new shares and conditions therefrom by registered letter, return receipt requested, at least six (6) days before the date of the opening of the subscriptions.
3. If some shareholders do not subscribe to shares for which they have an absolute right, and if the extraordinary general meeting authorizes it, the shares thus made availab...
Increase of Capital. The Company may from time to time by Ordinary Resolution increase its share capital by such sum, to be divided into new Shares of such par value, and with such rights, priorities and privileges attached thereto as the resolution shall prescribe.
Increase of Capital. In case of capital increase of SPAR China after its establishment, XXXX and SPAR shall have the preemptive right to new shares to be issued for such capital increase in proportion to their respective shareholdings in SPAR China.
Increase of Capital. In case of capital increase of New Company after its establishment, PALTAC and SPAR shall have the xxxxxptive right to new shares to be issued for such capital increase in proportion to their respective shareholdings in New Company. CHAPTER VI TRANSFER OF SHARES
