KLN Shares definition
Examples of KLN Shares in a sentence
As set out in the Joint Announcement, X.X. Xxxxxx Securities (Asia Pacific) Limited, on behalf of the Offeror and subject to the satisfaction or waiver (where applicable) of the Pre- Conditions, will make a voluntary conditional partial cash offer to the shareholders of KLN to acquire 931,209,117 KLN Shares at the offer price of HK$18.80 per KLN Share, and to the holders of the Share Options to cancel 51.8% of the outstanding Share Options as at the Final Closing Date.
The number of KLN Shares tendered by the Company into the Partial Offer which is validly accepted by the Offeror, in turn, is dependent on the number of KLN Shares tendered into the Partial Offer by other shareholders of KLN.
For the avoidance of doubt, nothing in the Participation Agreement requires every KLN Controlling Shareholder to enter into the Controlling Shareholders Irrevocable Undertakings provided that the aggregate number of KLN Shares which are the subject of the Controlling Shareholders Irrevocable Undertakings is 575,545,164 KLN Shares.
The KLN Shares have broadly outperformed the HSI since August, 2020, reaching a peak on 20 November 2020 at HK$18.18.
The KLN Shares have occasionally outperformed the HSI slightly for a short period of time following the declaration of a special dividend on 3 July 2019 and underperformed the HSI slightly for a short period of time following the outbreak of COVID-19 in February 2020.
Immediately following the Final Closing Date, if and to the extent the number of KLN Shares held by the public comprise less than 15.0% of the total issued KLN Shares, the Company would proceed with the Proposed Placing, and will not, at that time, be able to seek the approval of the Independent Shareholders as may be required under Chapters 14 and 14A of the Listing Rules.
In such circumstance, 278,736,232 KLN Shares tendered by the Company pursuant to the KPL Irrevocable Undertaking will be accepted and sold under the Partial Offer, and 79,013,818 KLN Shares will be sold by the Company pursuant to the Placing Agreement(s).(3) This assumes the sale price of the KLN Shares pursuant to the Placing Agreement(s) equals the Offer Price of HK$18.80 per KLN Share.
The majority of the respondents are aware of the importance of checking sharing settings (94,8 %), and only 20,3 % thought that it is complicated to sign in.
The Proposed Placing Mandate to be sought from the Independent Shareholders will be on the following terms: Purchasers: One or more purchasers to be identified by the Company,provided that each of such purchasers: (a) shall not be, in respect of KLN, a connected person nor a person falling under Rule 8.24(1) or (2) of the Listing Rules; (b) shall not be a connected person of the Company; and (c) does not as at the date of the relevant Placing Agreement(s) hold any KLN Shares.
It is the Offeror’s intention to hold the majority shareholding in KLN, which is just over 50% of the KLN Shares.