Examples of Average Closing Market Price in a sentence
The Listing Manual restricts a listed company from purchasing shares by way of a Market Purchase at a price which is more than 105% of the Average Closing Market Price (as defined in Section 3.2.4 of this Annexure I).
During any such period, the registered holder or the registered holder's representative or estate, as the case may be, may convert the entire principal amount of the debenture plus a cash payment equal to the product of multiplied by the Average Closing Market Price on the Conversion Date, into ( ) shares of Common Stock, subject to adjustment upon the occurrence of certain events as provided in the Indenture.
If the Board of Directors determines the fair market value of any distribution for purposes of this Section 11.4(c) by reference to the actual or when issued trading market for any securities, it must in doing so consider the prices in such market over the same period used in computing such Average Closing Market Price.
In determining whether any rights, options or warrants entitle the holders to subscribe for or purchase shares of Common Stock at less than such Average Closing Market Price, and in determining the aggregate offering price of such shares of Common Stock, there shall be taken into account any consideration received by the Company for such rights, options or warrants, the value of such consideration, if other than cash, to be determined by the Board of Directors.
However, the purchase price must not exceed (in the case of both a Market Purchase and an Off-Market Purchase pursuant to an equal access scheme) 105% of the Average Closing Market Price of the Shares (the "Maximum Price"), in either case, excluding related expenses of the Share Purchase.