Examples of Reduction Court Order in a sentence
On the subsequent registration of the Preference Reduction Court Order by the Registrar of Companies, any A Preference Shares and any B Preference Shares will be cancelled and holders of A Preference Shares will receive New Lloyds TSB Preference Shares and holders of B Preference Shares will receive cash.
It is expected that Admission will become effective and that dealings, for normal settlement, will commence at 8.00 a.m. on the Business Day after the Effective Date which, subject to the sanction of the Preference Scheme and the associated reductions of capital by the Court, the delivery of the Preference Court Orders and registration of the Preference Reduction Court Order by the Registrar of Companies and the satisfaction (or waiver) of the Conditions, is expected to be on 19 January 2009.
In the event that C Shares are issued pursuant to the terms of the Scheme but the Capital Reductions are not confirmed by the Court at the Second Court Hearing or the Reduction Court Order is not delivered to (or, if the Court so orders at the Second Court Hearing, registered with) the Registrar of Companies within 20 Business Days following the issue of the C Shares (or at such other time as the directors may determine), each C Share shall immediately thereupon be reclassified as a Deferred Share.
The Scheme will only become effective once an office copy of the Scheme Court Order, an officecopy of the Reduction Court Order and the Statement of Capital are delivered to the Registrar of Companies.
It will also depend on whether the Court Order(s) sanctioning the Scheme and confirming the Capital Reduction and, in relation to the Capital Reduction, the Statement of Capital are delivered to the Registrar of Companies, and if required by the Court, when the Reduction Court Order is registered.
Section 2 of this New Scheme is subject to the subsequent confirmation by the Court of the Reduction of Capital and accordingly may not become effective until a copy of the Reduction Court Order and related Statement of Capital have been delivered to and, if the Court so orders for the Reduction of Capital to take effect, registered by the Registrar of Companies.
It should be noted that, although it is currently the Company’s intention that the Demerger should be concluded, the Company is entitled to decide not to proceed with the Demerger at any time prior to the granting by the Court of the Provexis Reduction Court Order at the Provexis Reduction Court Hearing if the Board considers that it would not be in the interests of Provexis Shareholders to proceed.
The above times and dates are indicative only and will depend, among other things, on the date upon which (i) the Court sanctions the Scheme: (ii) the Court confirms the associated Capital Reduction; and (iii) the Court Orders and the Statement of Capital are delivered to the Registrar of Companies and, if the Court so orders, when the Reduction Court Order and the Statement of Capital are registered by him.
The second part of the Scheme, which completes the acquisition of Rexam by Ball, will become effective on the registration of the Reduction Court Order and statement of capital by the Registrar of Companies.
The Newco Reduction of Capital will become Effective as soon as a copy of the Newco Reduction Court Order has been registered by the Registrar of Companies.