Securities Conversion Ratio Sample Clauses

Securities Conversion Ratio. (a) On the Effective Date of the Amalgamation, the then outstanding shares in the capital of each of the Amalgamating Corporations shall be converted into issued and outstanding securities of the Amalgamated Corporation (subject to paragraph (c) below) as follows: (i) every one (1) Thermo Common Share shall be converted into twelve and one-half (12.5) fully paid and non-assessable Amalco Class “A” Shares; (ii) every one (1) Jenex Common Share shall be converted into one (1) fully paid and non-assessable Amalco Common Share. (iii) every one (1) Agent's Option shall be converted into one (1) Amalco Agent's Option. (b) On the Effective Date of the Amalgamation, the then outstanding Jenex Stock Options shall be deemed to be Amalco Stock Options, and new options shall be granted pursuant to the terms of the Amalco Stock Option Plan and in accordance with the policies of the CDNX; (c) Fractional securities will not be issued. Any registered holder of Thermo Common Shares or Jenex Common Shares, shall be entitled to the next higher whole number of Amalco Common Shares or Amalco Class “A” Shares, as the case mat be; and (d) Any shares of either of the Amalgamating Corporations held by or on behalf of the other Amalgamating Corporation shall, upon the Amalgamation becoming effective, be cancelled without any repayment of capital in respect thereof.