Examples of Series A First Preferred Shares in a sentence
Each holder of Series A First Preferred Shares will be entitled to one vote equal to the number of Common Shares into which his or her Series A First Preferred Shares are convertible at any special or general meeting of the shareholder of the Company.The debt component was measured at the issue date at the present value of the cash payment of dividends and principal under the terms of the preferred shares using a discount rate of 20% and a three-year term.
On July 10, 2006, the Company issued 1,200,000 Series A First Preferred Shares (the “preferred shares”) at an issue price of $10.00 per preferred share.
Notwithstanding the foregoing, at any time after the Series A First Preferred Shares become convertible pursuant to Section 7, the Corporation may not redeem any Series A First Preferred Shares unless such holders have failed to exercise their conversion rights pursuant to Section 7(a) for a period of thirty (30) days following receipt of a notice of redemption.
During 2013, the Company filed a notice of redemption for its Series A First Preferred Shares (the “preferred shares”) notifying preferred shareholders that the preferred shares together with all dividends accrued thereon were to be paid on November 14, 2013, upon receipt of original Series A First Preferred Share Certificates at the registered offices of the Company.
Debt component of preferred shares On February 7, 2019, the Company issued newly created Series A First Preferred Shares for gross proceeds of $3,000,000 with its largest shareholder, DHCT, at a price of $10 per Series A Share.
On September 24, 2009, the Company filed Articles of Amendment to increase the authorized capital of the Company by creating the first series of First Preferred Shares consisting of an unlimited number of Series A First Preferred Shares, along with certain rights contained therein.
The repurchase of Series A First Preferred Shares pursuant to this Section 9(b) shall occur simultaneously with the consummation of the Change of Control.
Subject to applicable law, the holders of Series A First Preferred Shares present at the second meeting constitute a quorum and the business specified in the original notice may be transacted by a majority vote of those holders of Series A First Preferred Shares in attendance (in person or by proxy) at the second meeting, voting as a class.
The Corporation shall be authorized to issue a maximum of [ ] Series A First Preferred Shares.
Notwithstanding the foregoing, if the Series A First Preferred Shares are issued in book-entry form through The Depository Trust Corporation or any similar facility, such notices may be given to the holders of the Series A First Preferred Shares in any manner permitted by such facility.