Examples of New Orezone Shares in a sentence
The Depositary will forward to each Orezone Shareholder, at the address of such Orezone Shareholder as it appears on the register for Orezone Shares, a Letter of Transmittal and instructions for obtaining delivery of the certificates representing the New Orezone Shares and the IAMGOLD Shares allotted and issued to such Orezone Shareholder pursuant to the Arrangement.
As of the date of this Agreement (i) there was one New Orezone Share outstanding, and (ii) there were no New Orezone Shares reserved for issue pursuant to any convertible securities of New Orezone or any other rights to acquire New Orezone Shares.
All outstanding New Orezone Shares have been authorized and are issued and outstanding as fully paid and non-assessable shares, free of pre-emptive rights.
The New Orezone Shares to be issued to Orezone and distributed to Orezone Shareholders pursuant to the Plan of Arrangement will be issued as fully paid and non-assessable shares, free and clear of any Encumbrances.
New Orezone is authorized to issue an unlimited number of New Orezone Shares.
Subject to Applicable Law and to section 5 hereof, at the time of such compliance, there shall, in addition to the delivery of a certificate representing the IAMGOLD Shares and the New Orezone Shares to which such holder is thereby entitled, be delivered to such holder, without interest, the amount of the dividend or other distribution with a record date after the Effective Time theretofore paid with respect such IAMGOLD Shares and New Orezone Shares.
If the Depositary is not provided with the correct TIN or an adequate basis for an exemption, such holder may be subject to penalties imposed by the Internal Revenue Service and backup withholding in an amount equal to 28% of the gross proceeds of any payment received (in IAMGOLD Shares and New Orezone Shares) hereunder.
Fractional Shares No fractional IAMGOLD Shares or New Orezone Shares will be issued to Orezone Shareholders.
In such case, the Depositary may withhold 28% of the gross proceeds of any payment made (in IAMGOLD Shares and New Orezone Shares) to such holder prior to the time a properly certified TIN is provided to the Depositary, and if the Depositary is not provided with a TIN within sixty (60) days, such amounts will be paid over to the Internal Revenue Service.
Orezone Shareholders will hold approximately 9% of the total outstanding IAMGOLD Shares and will hold 100% of the total outstanding New Orezone Shares.