Examples of Russian Shareholders in a sentence
In anticipation of completing the share repurchase transactions, the charter of Omolon was amended in July 2002 to eliminate the right of the Russian Shareholders to appoint the chairman and the voting procedures were changed to allow all shareholders to vote in accordance with their respective ownership interests.
In addition, on September 4, 2002, one of the Russian Shareholders of Omolon who brought a lawsuit against Omolon obtained a court order to freeze $47.0 million of gold inventory and cash.
In order to facilitate the financing of these costs and provide reimbursement to Cyprus, Omolon and Cyprus, with the cooperation of the Russian Shareholders, are seeking a working capital line of credit for Omolon.
In 2002, two Russian Shareholders and the Magadan Administration on behalf of a third Russian Shareholder (who together hold 38.1% of the outstanding shares of Omolon) instituted separate legal proceedings against Omolon asserting that the original issuance of shares was flawed and therefore null and void.
On December 3, 2002, Omolon entered into purchase agreements with four of the five Russian Shareholders who collectively own 44.17% of Omolon's shares.The share purchase agreements require that all pending lawsuits against Omolon be withdrawn.
Translation from Russian Shareholders of the Company who voted against or did not participate in the voting on the matter of issuing shares and securities convertible into shares by closed subscription shall have a preemptive right to purchase additional shares and securities convertible into shares placed by closed subscription in the amount proportional to the number of shares of this class (type) owned by them.
Companies controlled by the Russian Shareholders Operating transactions Balances with the companies controlled by the Russian Shareholders at December 31, 2019 and 2018 consist of the following: All outstanding balances with related parties are required to be settled in cash and are not secured.
Also, prior to July 2002, the Russian Shareholders nominated the Chairman of the Board.
Prior to July 2002, the Company had four of seven director votes.The remaining three director votes represent the Russian Shareholders.
Companies controlled by the Russian Shareholders Balances with the companies controlled by the Russian Shareholders at December 31, 2017 and 2016 consist of the following: All outstanding balances with related parties are required to be settled in cash and are not secured.