Examples of Second Subscription Agreement in a sentence
Upon completion of the Second Subscription Agreement, the percentage voting rights held by the Subscriber (together with parties acting in concert with it) in the Company will be increased from approximately 16.26% to approximately 30.32% (assuming that there is no change in the issued share capital of the Company other than the issue of the First Subscription Shares and the Second Subscription Shares).
On the same day, the employees of CMBC International and Quam entered into the Second Subscription Agreement to subscribe for 156,000,000 new Quam Shares for an aggregate consideration of HKD88,140,000.
The terms of this Agreement together with the First Subscription Agreement, the Second Subscription Agreement and the warrant certificates express and constitute the entire agreement between the parties in respect of the matters referred to herein.
According to the Second Subscription Agreement, the subscription price is HKD0.565 per new Quam Share.
In the meantime, a live dispute remains before this Court, and the Court is bound to resolve that dispute expeditiously.A stay is appropriate only when the party seeking that relief can show good cause.
Hence, the Second Subscription Agreement and the Third Subscription Agreement will terminate upon the termination of the First Subscription Agreement.
The parties to the Second Subscription Agreement have agreed to extend the payment date by which the Subscriber shall make payment for the subscription price.
Save for the proposed appointment of an additional Director set forth below, the Subscriber intends that there will not be any material changes in the management or employees of the Group as a result of the completion of the First Subscription Agreement and the Second Subscription Agreement.
The Board would like to emphasise that the right to nomination conferred upon the Subscriber under the First Subscription Agreement and the Second Subscription Agreement is the same as that of any other Shareholder, as under the laws of the Company’s place of incorporation and its articles of association there is no shareholding threshold required for any Shareholder to approach the Board with a candidate to request the Board to consider such nomination.
As at 31 December 2019, all the conditions precedent under the Second Subscription Agreement were fulfilled and the net proceeds of HK$177,000,000 (after deducting the expenses incurred in the subscription from the gross proceeds of HK$179,010,000) were raised from the subscription.