Examples of Ineligible Shareholder in a sentence
However, such a person will not be a Foreign Ineligible Shareholder if Panoramic is satisfied that it is not legally or practically constrained from making the Offer to a Magma Shareholder in the relevant jurisdiction and to issue New Panoramic Shares to such a shareholder on acceptance of the Offer, and that it is lawful for the shareholder to accept the Offer in such circumstances in the relevant jurisdiction.
Notwithstanding anything else in this Bidder’s Statement, Panoramic is not under any obligation to spend any money, or undertake any action, in order to satisfy itself that a person is not a Foreign Ineligible Shareholder or an Unmarketable Parcel Holder and is therefore eligible to receive New Panoramic Shares under the Offer.
If you are a Foreign Ineligible Shareholder or an Unmarketable Parcel Holder, you will not receive New Panoramic Shares and will only be entitled to receive a cash amount in Australian dollars for your Magma Shares determined in accordance with clause 6.3.
If you are a Foreign Ineligible Shareholder or an Unmarketable Parcel Holder who accepts the Offer, the New Panoramic Shares that you would have been entitled to receive will be issued to a Nominee who will sell your New Panoramic Shares and pay you the net cash proceeds of the sale.
In the event that the certifications set forth above in the Forms of Election to Exercise and Assignment are not completed, the Corporation shall deem the Beneficial Owner of the Rights represented by this Rights Certificate to be an Acquiring Person or other Ineligible Shareholder and, accordingly, such Rights shall be null and void.