Examples of GSK Share Exchange in a sentence
As such, on the occurrence of the Guarantee Assumption Date, the SLPs and Anacor will have unconditional contractual obligations to complete, respectively, the SLP Share Exchange and the Anacor Share Exchange either simultaneously with, or shortly following, the GSK Share Exchange.
It is intended that the GSK Share Exchange (and thus the Guarantee Assumption Date), together with the SLP Share Exchange and Anacor Share Exchange (each as defined in “Overview of Demerger and Separation” below), will occur while markets are closed over the weekend immediately prior to the listing of the Haleon Shares on the LSE.
The transaction steps have been designed to ensure that the GSK Share Exchange, the SLP Share Exchange and the Anacor Share Exchange are interconditional, such that one cannot occurwithout completion of the others; the GSK Share Exchange will only proceed in the circumstances where the SLP Share Exchange and Anacor Share Exchange are also proceeding.
Prospective investors should note that following completion of the GSK Share Exchange (as defined in “Overview of Demerger and Separation” below) and termination of the Guarantee provided by GlaxoSmithKline plc, investors will only have recourse to certain members of theCH Group (namely, the Issuers and Haleon plc) in connection with obligations under Notes issued under the Programme (see paragraph 6.1 of ‘Risk Factors’ below).