Examples of Initial US Offering in a sentence
Subject to the provisions of Section 2(c), for the first three hundred sixty five (365) day period following an Initial U.S. Offering, all reasonable and documented out of pocket expenses incurred By: the Company in connection with the registration and disposition of Registrable Securities under this Agreement pursuant to a Demand Registration shall be paid By: the Holders participating in such registration pro rata based on the amount of Registrable Securities sold By: each such Holder in the offering.
For purposes of this article 55.6, after an Initial US Offering public announcement shall mean disclosure in a press release reported by Reuters, the Dow Jones News Service, Associated Press or a comparable news service or in a document publicly filed by the Company with the U S Securities and Exchange Commission pursuant to Sections 13, 14 or 15(d) of the Exchange Act.
The Company must redeem, if the legislation allows this, the redeemable shares as soon as possible after the earlier of (i) the Company having sufficient distributable reserves and (ii) the closing of the Initial US Offering using the proceeds of the Initial US Offering which are paid to the Company.
The directors can make such arrangements and restrictions as they see fit to ensure that such transfers comply with the legislation and with the NASDAQ Copenhagen rules and, after an Initial US Offering, the rules of any US market on which the A shares are then traded.
After an Initial US Offering a shareholder must also comply with all requirements of the legislation and of the Exchange Act (and the rules and regulations made under that Act) in respect of the matters set out in articles 55.4, 55.6 and 55.7 but nothing in those articles shall affect any rights of holders to ask for the inclusion of proposals in, or the right of the Company to omit proposals from, the Company's proxy statement under Rule 14a-8 (or any successor provision) of the Exchange Act.
The Articles contain provisions such that certain corporate actions by members of the Group, called reserved matters, require either the approval of a majority of the Directors, including the Chairman and the B Director, or the affirmative vote of the of at least either 70% or 86% of the votes capable of being cast on such resolution (to be reduced to those percentages which represent equivalent percentages of shareholders unaffiliated with Njord Luxco following an Initial U.S. Offering).
If the Company does not acquire all of the shares of TORM A/S or the Company does not implement an Initial U.S. Offering or any other listing of its shares in the U.S., this may significantly increase the risk of any such challenge.
It is emphasised that a decision to proceed with an Initial U.S. Offering (and the size and timing of it) has not yet been made by the Company.
The Company may also consider making an Initial U.S. Offering, although it is emphasised that no decision has yet been made by the Company to proceed with an Initial U.S. Offering (or the size and timing of it).
Such Initial U.S. Offering may consist of an offer of new A Shares by the Company to new investors (many of whom are expected to be in the U.S.) alone or in conjunction with a sale of existing A Shares by existing shareholders.