Examples of Residual Shortfall in a sentence
Any failure by the Issuer to make any payment in respect of any Residual Shortfall shall in no circumstances constitute an Event of Default under Condition 11 ( Events of Default).
In this Condition 12.1, " Residual Shortfall" means the difference, if any, between the Net Proceeds and the aggregate amount which would have been due under the Notes but for the operation of this Condition 12.1.
Failure by the Issuer to make any payment in respect of any Residual Shortfall shall in no circumstances constitute an Event of Default under Condition 11 (Events of Default).
In this Condition, "Residual Shortfall" means the difference, if any, between the Net Proceeds and the aggregate amount which would have been due under the Notes but for the operation of this Condition 8(i).
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The dilutionary effect shown in this column of the table is the maximum dilution, assuming that all Entitlements are taken up by Eligible Shareholders pursuant to the Entitlement Offer or the Top Up Offer, or placed by the Company as Residual Shortfall Shares.
The Entitlement Offer, the Top Up Offer and the placement of any Residual Shortfall Shares will not be underwritten.The Company attempted to secure underwriting from an unrelated third party underwriter, but was unsuccessful.
If there remains any shortfall of Shares taken up by Eligible Shareholders (including after the application of the Top-Up Facility), the Directors of the Company reserve the right to issue all or any of the New Shares comprising the Shortfall Facility at their discretion (Shortfall Facility).The Directors’ allocation policy in respect of any Residual Shortfall is to encourage the introduction of new investors to the Company by placing the New Shares to professional and sophisticated investors.
The Responsible Entity will fund costs associated with the Entitlement Offer, ensuring the NTA of the Fund is not diluted.If there remains any shortfall of New Units which are not taken up by Eligible Unitholders under the Entitlement Offer (including under an oversubscriptions facility as detailed in the Offer Booklet), then the Directors reserve the right to issue any such shortfall of New Units at their discretion to new institutional and sophisticated investors (Residual Shortfall Facility).
Depending on the number of Entitlements taken up by other Eligible Shareholders under the Entitlement Offer or the Top Up Offer, and the extent to which the Directors place any Residual Shortfall Shares, Shandong Gold's shareholding in the Company could increase up to 66.25%.