Automatic Share Exchange definition

Automatic Share Exchange means the automatic exchange to occur if Sasol has at the relevant time elected to issue SOLBE1 Shares to the Company, in exchange for its SSA Khanyisa Shares and, if Sasol elects, for other assets of the Company other than cash, on the basis of the Share Exchange Ratio as contemplated in clause 31, but subject to clause 32;
Sample 1Sample 2
Automatic Share Exchange means the automatic exchange to occur if the Holder of the B Ordinary Share has at the relevant time elected to issue SOLBE1 Shares to each Ordinary Shareholder, in exchange for his/her/its Ordinary Shares (other than the B Ordinary Shares), on the basis of the Share Exchange Ratio as contemplated in clause 32, but subject to clause 33.1;
Sample 1Sample 2
Automatic Share Exchange means, subject to clause 18.2.1, the automatic exchange of SOLBE1 Shares to be issued by Sasol, either as selected by Sasol in its sole discretion, to:
Sample 1Sample 2

Examples of Automatic Share Exchange in a sentence

  • If Sasol fails to make the election to undertake the Automatic Share Exchange with the Company as contemplated in clause32.1 it shall be deemed to have elected to undertake the automatic share exchange with the shareholders of the Ordinary Shareholder.

  • Sasol shall, on the Exchange Date, undertake the Automatic Share Exchange and issue the relevant number of SOLBE1 Shares to the Company.

  • To the extent that the Company still holds assets including cash after the Preference Share Funding has been settled and any known liabilities, including tax liabilities, of the Company have been fully discharged or provided for, and that Sasol elects to effect the Automatic Share Exchange with the Company then in such event Sasol shall instruct the Share Exchange Expert to determine the Share Exchange Ratio for the purposes of the Automatic Share Exchange with the Company.

  • It is not possible to determine at this stage whether issuing SOLBE1 Shares pursuant to the Automatic Share Exchange will result in the 30% threshold being exceeded, but assuming that the SOLBE1 Shares are a different class of shares to the SOL Shares, section 41(3) is therefore only being complied with as a matter of caution.

  • If the Holder of the B Ordinary Share elects or is deemed to have elected to undertake the Automatic Share Exchange the provisions of clauses32.4 to 32.12 shall apply.

  • The Holder of the B Ordinary Share shall, on the Exchange Date, undertake the Automatic Share Exchange and issue the relevant number of SOLBE1 Shares to each Ordinary Shareholder whose name appears on the Company’s Securities Register by close of Business Day immediately prior to the Exchange Date.

  • If the Holder of the B Ordinary Share fails to make the election to undertake the Automatic Share Exchange with FundCo or as contemplated in clause32.1, it shall be deemed to have elected to undertake the Automatic Share Exchange with the Ordinary Shareholders.

  • To the extent that FundCo still holds assets including cash after the Preference Share Funding has been settled and that the Holder of the B Ordinary Share elects to effect the Automatic Share Exchange with the Ordinary Shareholders and not as it is entitled to do with FundCo, then in such event the Holder of the B Ordinary Share shall instruct the Share Exchange Expert to determine the Share Exchange Ratio.

  • For the avoidance of doubt, if this clause22.1 is implemented the Automatic Share Exchange will not occur.

  • HEALTH SERVICES School health services, in each school, are directed by a registered nurse.


More Definitions of Automatic Share Exchange

Automatic Share Exchange means, subject to clause 18.2.1, the automatic exchange of SOLBE1 Shares to be issued by Sasol, either as selected by Sasol in its sole discretion, to:1.3.6.1. the Trustees, for all of their remaining SSA Khanyisa Shares; or alternatively1.3.6.2. each Khanyisa Tier 2 Participant in whose name his/her share of the SSA Khanyisa Shares have been transferred by the Trustees, for all his/her SSA Khanyisa Shares;1.3.7. "Bargaining Council" means a bargaining council established in terms of the LRA;1.3.8. "B-BBEE" means broad-based black economic empowerment as defined in the B-BBEE Act and the Codes;1.3.9. "B-BBEE Act" means the Broad-Based Black Economic Empowerment Act, 53 of 2003 as amended by the Broad-Based Black Economic Empowerment Act, 46 of 2013, and any regulations or codes of good practice promulgated thereunder (including the Codes) as they may exist from time to time;1.3.10. "BEE Standards" means each and all of (a) the B-BBEE Act, (b) the Codes,(c) any Charter and (d) any other law, codes or license condition applicable to the Company and/or Sasol (or relevant parts thereof) pursuant to which the ownership and/or control and/or economic or other interest of Black People is measured or a requirement relating to Black People (or B-BBEE) is imposed, or the rights, interests and/or obligations of an entity are affected thereby directly; each as enacted, amended, interpreted and applied from time to time;1.3.11. "Beneficiaries" means collectively, Khanyisa Tier 1 Participants and Khanyisa Tier 2 Participants who do not cease to be Beneficiaries in accordance with the provisions of this Trust Deed, or in respect of those who die, their replacements contemplated in clauses 9.1 or 19.1, as the case may be, and "Beneficiary" shall, as the context dictates, mean any one of them;​
Sample 1
Automatic Share Exchange means, subject to clause 19.2.1, the automatic exchange of SOLBE1 Shares to be issued by Sasol (or Designated Assets if clause 22.1.3 is applicable, to be furnished by the Offeror), either as selected by Sasol (or if clause 22.1.3 is applicable, the Offeror) in its sole and absolute discretion, to:
Sample 1
Automatic Share Exchange means the automatic exchange to occur at the end of the empowerment period (which will end on 1 June 2028 unless either Sasol determines that it will end on an earlier date or other circumstances trigger its earlier ending), when the Company will issue SOLBE1 Shares:
Sample 1Sample 2

Related to Automatic Share Exchange

  • Share Exchange has the meaning set forth in Section 2.1.

  • Share Exchange Event shall have the meaning specified in Section 14.07(a).

  • Share Exchange Ratio has the meaning given to it in Section 3.1(d);

  • Initial Merger Consideration has the meaning set forth in Section 2.2(a).

  • Common Share Reorganization has the meaning set forth in Section 4.1;

  • Effective Time of the Merger means the time as of which the Merger becomes effective, which shall occur on the Funding and Consummation Date.

  • First Merger shall have the meaning given in the Recitals hereto.

  • Pre-Closing Reorganization has the meaning set forth in the Recitals.

  • Merger Closing means the “Closing” as defined in the Merger Agreement.

  • Make-Whole Acquisition Stock Price means the consideration paid per share of Common Stock in a Make-Whole Acquisition. If such consideration consists only of cash, the Make-Whole Acquisition Stock Price shall equal the amount of cash paid per share of Common Stock. If such consideration consists of any property other than cash, the Make-Whole Acquisition Stock Price shall be the average of the Closing Price per share of Common Stock on each of the 10 consecutive Trading Days up to, but not including, the Make-Whole Acquisition Effective Date.

  • Change in Control Transaction means the occurrence of any of the following events:

  • Company Shareholder Approval has the meaning set forth in Section 4.03(d).

  • Per Share Merger Consideration has the meaning set forth in Section 3.1(a).

  • Closing Merger Consideration has the meaning set forth in Section 2.02

  • Share Exchange Agreement has the meaning specified in the Recitals.

  • Merger Transaction means any merger, acquisition or similar transaction involving a recapitalization as contemplated by Rule 10b-18(a)(13)(iv) under the Exchange Act.

  • Exchange Transaction means an exchange of Units for Common Units pursuant to, and in accordance with, the Exchange Agreement or, if the Issuer and the exchanging Limited Partner shall mutually agree, a Transfer of Units to the Issuer, the Partnership or any of their subsidiaries for other consideration.

  • Conversion Stock means shares of Common Stock issued upon conversion of the Preferred Stock.

  • Merger Closing Date the Closing Date (as defined in the Merger Agreement).

  • Company Merger has the meaning set forth in the recitals hereto.

  • Company Convertible Notes means the convertible notes issued by the Company pursuant to the convertible note purchase agreement by and among the Company, PA Grand Opportunity Limited and other investors named therein dated June 6, 2016, as amended on June 13, 2016.

  • Founder Shares Lock-up Period means, with respect to the Founder Shares, the period ending on the earlier of (A) one year after the completion of the Company’s initial Business Combination or (B) subsequent to the Business Combination, (x) if the last sale price of the Common Stock equals or exceeds $12.00 per share (as adjusted for stock splits, stock dividends, reorganizations, recapitalizations and the like) for any 20 trading days within any 30-trading day period commencing at least 150 days after the Company’s initial Business Combination or (y) the date on which the Company completes a liquidation, merger, capital stock exchange, reorganization or other similar transaction that results in all of the Company’s stockholders having the right to exchange their shares of Common Stock for cash, securities or other property.

  • Pre-Exchange Transfer means any transfer or distribution in respect of one or more Common Units (i) that occurs prior to an Exchange of such Common Units, and (ii) to which Section 743(b) or 734(b) of the Code applies.

  • Total Merger Consideration has the meaning set forth in Section 2.2(a).

  • Lock-Up Shares has the meaning set forth in Section 4.1.

  • Stock Split means any kind of stock split in relation to the Shares, including a free share distribution to the holders of Shares, a stock dividend or a sub-division of Shares;