Examples of Redomicile Proposal in a sentence
Any transfers of Splitit Shares (or Splitit Cayman Shares) will be subject to the terms of the Splitit Articles of Association (and, if the Redomicile Proposal is implemented, the Splitit Cayman Articles of Association).
The arrangements agreed between Sylvania Resources and Sylvania Platinum in relation to the Redomicile Proposal in the Implementation Agreement include those set out below.
However, following the implementation of the Redomicile Proposal, any changes to senior management will remain subject to the ongoing review and analysis of Splitit Cayman.
Immediately after implementation of the Redomicile Proposal, the only asset that Sylvania Platinum will hold will be the Sylvania Resources Shares.
The Directors have been advised that implementation of the Redomicile Proposal will not, of itself, result in Newco or the Newco Group incurring a greater liability for tax than would have been incurred by the Group had the Redomicile Proposal not been implemented, other than in respect of the annual government fee payable to the Bermuda government by Newco.
Following the implementation of the Redomicile Proposal, the composition of the board of Splitit Cayman will remain subject to the continued review and analysis by Motive and Splitit Cayman.
Having taken into account (i) the background to the Redomicile Proposal; and (ii) the detailed reasons for the implementation and the effects of the Redomicile Proposal as set out in the Explanatory Statement, the Directors consider that the Redomicile Proposal is in the interests of the Company and the Shareholders as a whole.
If the Implementation Agreement is terminated, the Redomicile Proposal will not proceed.
Splitit’s current articles of association will be completely replaced by amended and restated articles of association as part of the implementation of the Placement Proposal and to be in effect until the implementation of the Redomicile Proposal.
Splitit directors currently hold shares and other securities in Splitit and, if the Redomicile Proposal becomes Effective, Proposed Splitit Directors will hold interests in Splitit Cayman Shares and other securities.