Examples of Escrowed Shareholders in a sentence
Viva Leisure Limited entered into voluntary escrow deeds with respect to fully paid ordinary shares held by the following shareholders (Escrowed Shareholders): • SHJA Management Pty Ltd;• Harry Konstantinou;• Angelo Konstantinou;• Trenwith Nominees Pty Ltd; and• Mera Vale No.1 Pty Ltd, which restricted disposal of shares and which gave Viva Leisure Limited a technical relevant interest under s608(1)(c) of the Act.
The Voluntary Escrow Deeds do not prevent the Escrowed Shareholders from exercising their voting entitlements or any rights to receive dividends and distributions or participate in any rights issue or bonus issue.
Prior to listing on the NSX, Escrowed Shareholders will be required to enter into mandatory escrow restriction agreements (Restricted Securities Agreement) in relation to Shares held by them.
Certificates representing such Escrowed Shares shall be delivered or sent by registered mail to the Escrowed Shareholders at their respective addresses as set out in Schedule "B".
This could result in Shareholders receiving a market price for their Shares that is less than the price that Shareholders paid.The Escrowed Shareholders will hold approximately 19.99% of the Shares following Completion of the Offer, which may impact on liquidity.