Examples of Share Purchase Right in a sentence
On February 1, 1999, the Board of Directors of the Company adopted a shareholder rights plan and declared a rights dividend of one-sixth of one Preferred Share Purchase Right (“Right”) for each share of Common Stock outstanding on February 8, 1999, and provided that one-sixth of one Right would be issued with each share of Common Stock, thereafter issued.
On the Rights Offering Distribution Date, each share of the Existing Common Stock outstanding on the Rights Offering Record Date shall be exchanged for (1) one share of the New Common Stock and (2) a Share Purchase Right entitling the holder to purchase its Pro Rata portion of the Eligible Offeree Rights Offering Common Stock.
For the year ended December 31, 2015, the Company recorded a gain of $7.5 million included in non-cash finance expense (note 18) related to the change in the carrying amount of the Share Purchase Rights derivative between filing of the prospectus on December 7, 2015 and determination of the number of common shares to be issued for each Share Purchase Right on December 22, 2015.
Under the Rights Plan, a dividend of one Preferred Share Purchase Right was issued for each share of common stock held by the stockholders of record as of the close of business on September 7, 2001.
However, in the current political climate, which challenges the legitimacy of public provision of services in areas thought to have market potential, vertical equity has gained momentum as a mechanism for constraining claims of need to those based on severe financial deprivation.