Examples of New A&B in a sentence
In each case, any dividend or distribution authorized and paid by New A&B to a Restricted Person with respect to such Restricted Person's Excess Shares after the automatic transfer of such Excess Shares into a trust must be paid by the Restricted Person to the trustee.
In connection with the separation, the Board of Directors of New A&B will form its own compensation committee (the "New A&B Compensation Committee") consisting entirely of independent directors.
In addition, shares of New A&B common stock held in the trust will be deemed to have been offered for sale to New A&B at a price per share equal to the lesser of (i) the fair market value (determined in accordance with the formula set forth in New A&B's charter) on the date New A&B accepts the offer and (ii) the Proposed Transfer Price, the Status Change Price or the Deemed Original Issuance Price, as the case may be, of such Excess Shares.
Any Restricted Person will not profit from ownership of any shares of New A&B common stock held in the trust, will have no rights to dividends or distributions and will have no rights to vote or other rights attributable to the shares of New A&B common stock held in the trust.
Construction of the center was completed in 2009, and New A&B sold its interest in the venture in March 2011 for a gain of $3.7 million.
In May 2009, New A&B entered into an amended agreement with DMBC to increase New A&B's ownership participation in Kukui'ula in exchange for more favorable participation rights to future cash and profit distributions, while limiting DMBC's future contributions to $35 million.
New A&B continues to market for sale the venture's assets that served as collateral for the repayment of New A&B's investment, including a 14-acre oceanfront parcel and an adjacent eight-acre parcel.
Certain Provisions of Hawaii Law, New A&B's Charter and New A&B's Bylaws Certain provisions of Hawaii law, New A&B's charter and New A&B's bylaws summarized below may have an anti-takeover effect and may delay, deter or prevent a tender offer or takeover attempt that some shareholders might consider to be in their best interests, including attempts that might result in a premium being paid over the market price for shares of New A&B common stock.
In December 2007, New A&B entered into a joint venture with Intertex Palmdale Trade & Commerce Center LLC, for the planned development of a 315,000-square-foot mixed-use commercial office and light industrial condominium complex on 18.2 acres in Palmdale, California, located 60 miles northeast of Los Angeles and 25 miles northeast of Valencia.
In 2008, New A&B received final zoning approval for 179 acres in Kahului, Maui, representing the second phase of its Maui Business Park project, from agriculture to light industrial.