THIRD ALLOTMENT AND SECOND COMPLETION Sample Clauses

THIRD ALLOTMENT AND SECOND COMPLETION. 4.1 The Company hereby provisionally allots, such provisional allotment to take effect immediately following First Completion, to each holder of Second Deferred Shares following First Completion, for every 22.981132 Second Deferred Shares held by them, one Subscription Share to be subscribed at Second Completion at a price of £4.06, and three New Shares to be issued as fully paid by way of bonus issue (together the “Third Allotment”). 4.2 Second Completion shall take place immediately following First Completion at the offices of KLegal (or at such other place or date as the parties may agree) and at Second Completion all but not some only of the following shall take place (to the extent that they have not taken place prior to Second Completion): (a) each holder of Second Deferred Shares whose name is set out in part 3 of schedule 1 hereby agrees to accept the Third Allotment as is set out in part 3 of schedule 1 at Second Completion by undertaking to subscribe or procure the subscription of £4.06 per Subscription Share. Such payment shall be made in cash by way of telegraphic transfer to the Company’s Account; (b) the Company shall enter the names of the allottees (or the entities in favour of whom the allottees have renounced their rights in accordance with clause 4.3 below) in the Register of Members of the Company and shall issue and deliver to such entities share certificates duly executed by the Company for the relevant New Shares; (c) Each Second Deferred Share in respect of which the Third Allotment is accepted shall automatically be redesignated as a Third Deferred Share on Second Completion in accordance with the Resolutions. 4.3 Any holder of Second Deferred Shares who accepts the Third Allotment pursuant to clause 4.2(a) above may renounce any part of its rights in favour of a third party approved by the Board.