Examples of Additional Preference Shares in a sentence
Article 4.7 provides that no such Additional Preference Shares may be issued unless (i) at the time of such proposed issue the Auditors (as defined therein) have reported that immediately following such issue the aggregate nominal amount of the Additional Preference Shares to be issued, when added to the aggregate nominal amount of the Priority Preference Shares for the time being in issue, will not exceed an amount equal to 25 per cent.
The aggregate net proceeds of the issue of 300,000,000 New Preference Shares and 260,000,000 Additional Preference Shares, after deduction of all related expenses, will be approximately HK$190,000,000 (representing a net price of HK$0.633 per New Preference Share) and approximately HK$190,000,000 (representing a net price ofHK$0.731 per Additional Preference Share).
Additional Preference Shares has the meaning given to that term in paragraph 3.7 of Part C (Overview of the Liability Management Exercise) of this Explanatory Statement.
The New Preference Shares and the Additional Preference Shares, when issued, will rank pari passu with, and carry the same rights in all aspects as, the other Preference Shares then issued and outstanding.
An EGM will be convened at which approval of the Shareholders will be sought to approve, among others, (i) the granting of a specific mandate for the allotment and issue of the New Preference Shares and the Additional Preference Shares; and (ii) the appointment of the Investor Director as initially nominated by the Investor.
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An application will be made by the Company to the Listing Committee of the Stock Exchange for the listing of, and permission to deal in, the Ordinary Shares to be issued on conversion in full of the New Preference Shares and the Additional Preference Shares.
The purchase price per share of Additional Preference Share shall be $0.94 per share (the “Per Share Price”) and the aggregate purchase price for any issuance of Additional Preference Shares to be subscribed for and purchased by a Buyer at any Subsequent Closing (the “Subsequent Purchase Price”) shall be the product of (x) the Per Share Price and (y) the number of Additional Preference Shares that such Buyer is required to subscribe for and purchase the applicable Subsequent Closing.
Additional Preference Shares may be issued or subordinated loans advanced by the Group from time to time if required to provide additional funding to discharge or refinance the Preference Share Obligations.