Examples of Sheikh Group in a sentence
Ares: 2.5 per cent.The voting share capital of Topco will be owned in the following proportions immediately after the Effective Date:(a) Sheikh Group and Founders: 69.9 per cent.;(b) THCP: 30.1 per cent.;(c) Rollover Securities: 0.0 per cent.; and(d) Ares: 0.0 per cent.The Sheikh Group and THCP are joint offerors with respect to the Offer.
The Rollover Shareholding does not include the CareTech Shares to be rolled over by the Sheikh Group into shares in Topco.
In addition, the Sheikh Group, together with persons "acting in concert" (for the purposes of the Takeover Code) with Bidco and Sheikh Holdings (the "Concert Party"), is interested in, directly and indirectly, 14,878,686 shares in CareTech, representing 13.1 per cent.
Pursuant to the Offer, the Sheikh Group would be the controlling shareholders of Topco and Farouq and Haroon Sheikh will remain fully involved in the management of CareTech, and expect to do so along with the existing senior management team.
Share Exchange AgreementBidco and each member of the Sheikh Group have entered into a share exchange agreement dated 27 June 2022 (the "Share Exchange Agreement"), pursuant to which each member has have agreed to transfer, or procure to transfer, to Bidco its CareTech Shares upon the Scheme becoming Effective.
In consideration for such transfers, Bidco shall issue to each member of the Sheikh Group, in exchange for each such CareTech Shares so transferred, unsecured loan notes of £1.00 for each constituted pursuant to a loan note instrument executed by Bidco on 27 June 2022.
Each member of the Sheikh Group may only exercise such drag right if such purported sale will result in such member ceasing to hold any securities in Topco.
Information on Topco and its subsidiaries Topco is owned by the Sheikh Group and TH Pathways S.à r.l. (a special purpose vehicle owned by THCP and incorporated for the purpose of implementing the Offer) ("TH Pathways"), and was formed for the purpose of implementing the Offer.
For the duration of the Lock-up Period, the Sheikh Group and, from the end of the Lock-Up Period, THCP shall have a drag right to require the sale of all securities in Topco held by allother Topco Shareholders on the same economic terms as a proposed sale of securities in Topco to a bona fide third party.
The Sheikh Group may exercise a call option at any time during an initial five year lock-up period following the Effective Date (the "Lock-up Period") to purchase all but not only some of the securities in CareTech that are not held by the Sheikh Group, including any Rollover Securities.