Share Consolidation. In the case of a consolidation of shares of Delaware Common Stock, the Board of Directors may, in good faith and in its discretion and subject to applicable Law and to obtaining any required regulatory approvals, consolidate each issued and unissued Exchangeable Share on the same basis concurrently with, or as soon as practicable following, the consolidation of the shares of Delaware Common Stock (and to ensure that the Exchangeable Share Exchange Ratio does not decrease as a result of the consolidation of the shares of Delaware Common Stock). For greater certainty, subject to applicable Law, no approval of the holders of Exchangeable Shares to an amendment to these Articles shall be required to give effect to such consolidation.
Share Consolidation. If, at any time after the First Closing, the closing price of the Common Shares on the CSE shall have been lower than $0.05 per share for a period of more than twenty (20) consecutive business days, the Corporation shall, upon the written request of the Investor, as soon as reasonably practicable call a meeting of shareholders of the Corporation to approve a consolidation of the Common Shares on a ratio such that on the business day on which such written request was received by the Corporation, the closing price of the Common Shares would have been at least $0.10 per share had the consolidation been effective on such date. If the Corporation does not approve the foregoing consolidation of the Common Shares upon request of the Investor in accordance with this section, then the Corporation shall either (i) redeem all outstanding Debentures and Warrants then held by the Investor within thirty (30) business days of the date of the written request of the Investor in respect of the consolidation of the Common Shares at a redemption price equal to 120% of the nominal value of the Debentures and Warrants, as applicable, or (ii) pay to the investor such amounts, in cash or Common Shares, at the discretion of the Corporation, as would give to the Investor the same economic benefit as if the closing price of the Common Shares would have been at least $0.10 per share had the consolidation been effective on the date the written request from the Investor was received by the Corporation.
Share Consolidation. If, at any time after the Second Closing, the closing price of the Common Shares on the CSE shall have been lower than $0.05 per share for a period of more than twenty (20) consecutive business days, the Corporation shall, upon the written request of the Investor, as soon as reasonably practicable approve a consolidation of the Common Shares such that on the business day on which such written request was received by the Corporation, the closing price of the Common Shares would have been at least $0.10 per share had the consolidation been effective on such date. If the Corporation does not approve the foregoing consolidation of the Common Shares upon request of the Investor in accordance with this section, then the Corporation shall either (i) redeem all outstanding Debentures then held by the Investor within thirty (30) business days of the date of the written request of the Investor in respect of the consolidation of the Common Shares at a redemption price equal to 120% of the nominal value of the Debentures, as applicable.
Share Consolidation. (a) As soon as reasonably practicable after the Company obtains the Required Company Shareholder Approval and in any event prior to the Effective Time and the closing of any PIPE Transaction or Permitted Equity Financing, the Company shall allot and issue the Bonus Shares, credited as fully paid at par by way of capitalizing all or any part of any amount for the time being standing to the credit of any reserve or fund (including any share premium account and capital redemption reserve and the profit and loss account) for paying up in full the Bonus Shares at par, on a pro rata basis to all Qualifying Company Shareholders (the “Bonus Issue”); provided that:
(i) no fraction of a Pre-Consolidation Share will be issued to any Qualifying Company Shareholder by virtue of the Bonus Issue;
(ii) each Qualifying Company Shareholder that would otherwise be so entitled to a fraction of a Pre-Consolidation Share in the Bonus Issue (after aggregating all fractional Pre-Consolidation Shares that otherwise would be received by such Qualifying Company Shareholder) shall instead be entitled to receive such number of Pre-Consolidation Shares to which such Qualifying Company Shareholder would otherwise be entitled, rounded down to the nearest whole number;
(iii) no Bonus Shares will be issued to any Excluded Company Shareholders, and any Bonus Shares that would otherwise have been issued to the Excluded Company Shareholders, if any, will be aggregated (subject to rounding pursuant to Section 2.1(a)(iv)), issued to a nominee to be nominated by the Company Board and sold in the market as soon as practicable after dealing in the Bonus Shares commences, the net proceeds of which (after deduction of expenses) shall be distributed in HK$ to the Excluded Company Shareholders, if any, pro rata to their respective shareholdings in the Company as at the close of business on the Bonus Issue Record Date;
(iv) to the extent that any Excluded Company Shareholder would otherwise be entitled to a fraction of a Pre-Consolidation Share in the Bonus Issue if such Excluded Company Shareholder were a Qualifying Company Shareholder (after aggregating all fractional Pre-Consolidation Shares that such Excluded Company Shareholder would otherwise be entitled to if such Excluded Company Shareholder were a Qualifying Company Shareholder), the number of Bonus Shares to be issued and sold for the benefit of such Excluded Company Shareholder pursuant to Section 2.1(a)(iii) shall be rounded down to the nea...
Share Consolidation. At such time as when the Common Shares of the Corporation are listed and trading on the CSE at any time following the Second Closing, if the closing price of the Common Shares on the CSE is lower than $0.10 per share for a period of more than thirty (30) consecutive Trading Days, the Corporation shall, upon the written request of the Investor, approve as soon as reasonably practicable a consolidation of the Common Shares such that on the Trading Day on which such written request was received, the closing price of the Common Shares would have been at least $0.50 per share had the consolidation been effective on such date.
Share Consolidation. In general, a Resident Holder will not realize a capital gain or a capital loss as a result of the Share Consolidation and the aggregate adjusted cost base to a Non-Resident Holder of its Restricted Voting Shares will be the same immediately after the Share Consolidation as it was immediately before the Share Consolidation.
Share Consolidation. The Nubian Parties acknowledge and agree that in connection with the Exchange Listing, Athena is intending to effect the consolidation of its then issued and outstanding common stock (the "Consolidation"). If there is any subdivision, consolidation or other alteration of the share capital of Athena before the date of any share issuance to the Nubian Parties, there shall be a corresponding adjustment in the number of shares issuable to reflect such change in share capital.
Share Consolidation. The Listed Company having completed a consolidation (the "Consolidation") of its issued and outstanding common shares in order for it to have the capital structure described in Schedule "A" hereto on closing of the Acquisition. All references in this Letter Agreement are to post-Consolidation Common Shares unless otherwise noted. This condition is for the benefit of CCAN and may be waived, in whole or in part by CCAN, in writing, at any time. Private Placement CCAN arranging for a private placement of units (the "units") of the Listed Company for gross minimum proceeds of CDN$ 6,000,000 and gross maximum proceeds of CDN$ 15,000,000 at a price of $1.00 per Unit, by the closing of the Acquisition (the "Private Placement"). This condition is for the benefit of the Listed Company and may be waived, in whole or in part, in writing, at any time. CCAN agrees to complete the Private Placement by the closing of the Acquisition on the following terms:
Share Consolidation. If the Company is required to comply with the minimum issue price rule in the Listing Manual as applicable to the Proposed Acquisition being a reverse takeover under Rule 1015 of the Listing Manual, the Company intends to seek the approval of Shareholders at a general meeting to undertake a consolidation of the Company’s shares at such consolidation ratio as may be necessary to comply with the Listing Manual (the “Share Consolidation”). Such consolidation shall take effect immediately prior to the issue and allotment of the Consideration Shares.
Share Consolidation. The completion of the Share Consolidation (if required to comply with the minimum issue price rules in the Listing Manual as applicable to an acquisition which constitutes a reverse takeover under Rule 1015 of the Listing Manual).
