Examples of Series L Shares in a sentence
The Series L Shares is not entitled to any preemptive or subscription rights in respect of any securities of the Corporation.
The Series L Shares shall, with respect to dividend rights and rights upon liquidation, dissolution and winding up, rank prior to the Common Stock.
Exclusion of the pre-emptive rights with respect to the Series L SharesThe issue of the Series L Shares and the making of the corresponding in-kind contribution in the form of 3,120,000 (three million, one hundred and twenty thousand, i.e. 1,040,001 preferred shares and 2,079,999 ordinary shares) shares with a nominal value of PLN 100 (one hundred zlotys) each in the share capital of Santander Consumer Bank S.A. with its registered office in Wrocław and postal address: ul.
The Series L Shares will be paid for by SCF prior to the registration of the increased share capital, entirely in the form of the In-Kind Contribution.Ms Bożena Graczyk, a statutory auditor appointed by the competent registry court, has issued an opinion on the report of the Bank’s Management Board regarding the in-kind contributions made in order to cover for the increased share capital and Citigroup Global Markets Limited has issued a fairness opinion on the fair value of the In-Kind Contribution.23.
The Depositary expects to distribute the ADS Scrip Dividend to ADS holders in cash or in additional ADSs, as applicable, promptly after receipt of the applicable funds and Series L Shares from the Company.
ConclusionIn view of the foregoing, the Bank’s Management Board believes that the exclusion of the pre- emptive rights of the Bank’s existing shareholders, in connection with the issuance of the Series L Shares, is in the Bank’s best interests, results from its strategy and development plans and is necessary due to the specific nature of the issue which involves making an in-kid contribution.
Holders of the Series L Shares shall be entitled to cast one vote per share, voting with holders of shares of Common Stock and with holders of other series of voting preferred stock as a single class, on any matter to come before a meeting of the shareholders, except with respect to the casting of ballots on those matters as to which holders of Preferred Stock or a particular series thereof are required by law to vote separately.
The Depositary expects to distribute the ADS Scrip Dividend to ADS holders in cash or in Series L ADSs, as applicable, promptly after receipt of the applicable funds and Series L Shares from the Company.
The issue of the Series L Shares in exchange for the In-Kind Contribution will enable the Bank to take control over SCB without the necessity for the Bank to spend significant funds or incur debt.
Holders of the Series L Shares shall be entitled to cast one vote per share, voting with holders of shares of Common Stock and with holders of other series of voting preferred stock as a single class on any matter to come before a meeting of the shareholders, except with respect to the casting of ballots on those matters as to which holders of Preferred Stock or a particular series thereof are required by law to vote separately.