Common use of Preferential Right Clause in Contracts

Preferential Right. Article 19 - The existing shareholders shall have preferential rights with respect to the purchase of new shares to be issued. The duration and conditions of exercising such a priority shall be determined by the Board of Directors in accordance with the legislation. Each Group (A) share is considered as 20 shares and divided into total number of shares due to the reason that 20 Group (A) shares have been changed with 1 Group (A) share with a nominal value of 1 Kurus, thus the preferential right to be given to each share is calculated by considering each Group (A) share as times 20. The preferential rights not used within their validity periods are presented to the public in accordance with the legislation. Decrease of Capital

Appears in 4 contracts

Samples: www.kap.org.tr, www.kap.org.tr, www.kap.org.tr

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