Examples of Stapled Ordinary Shares in a sentence
Each B Shareholder must at all times hold at least the B Share Issue Ratio of Stapled Ordinary Shares to B Shares.
If, as a result of the disposal of any B Shares together with their accompanying Stapled Ordinary Shares, both the transferor and the transferee (together with any other shareholders related to or acting in concert with the transferor and transferee, respectively) each hold more than 25% of the Total Voting Rights of New Distell, the transferee is entitled to offer to purchase the ordinary shares in New Distell held by all ordinary shareholders of New Distell.
The B Shares and accompanying Stapled Ordinary Shares provide Remgro with a 52.8% voting interest in New Distell.
The B Shares and accompanying Stapled Ordinary Shares will provide Remgro with a 52.8% voting interest in New Distell.
Stapled Ordinary Shares can be disposed of off-market (i.e. not via the JSE’s normal order book) or on-market (i.e. via the JSE’s normal order book).
Any disposal of Stapled Ordinary Shares on-market will result in the cessation of the voting rights attaching to those B Shares, and Stores will then be entitled, at its election, to repurchase the B Shares corresponding to the number of Stapled Ordinary Shares sold on-market.
Nothing contained in these B Share terms shall be construed as restricting the disposal of Stapled Ordinary Shares, provided that in such disposal the consequences insofar as the B Shares are set out below.
Any disposal of which the company secretary is not informed of such transfer will result in the cessation of the voting rights attaching to those B Shares, and Stores will then be entitled, at its election, to repurchase the B Shares corresponding to the number of Stapled Ordinary Shares sold.
Should there be a corporate event or an alteration of the share capital of the Company which increases or decreases the number of Stapled Ordinary Shares held by any B Shareholder, then the number of B Shares held by such B Shareholder shall be increased or decreased, as the case may be, to maintain the B Share Issue Ratio of Stapled Ordinary Shares to B Shares held by such Shareholder.
The B Shares will be unlisted and as such, as per the New Stores MOI, the company secretary will need to be informed of any disposal of Stapled Ordinary Shares and the corresponding B Shares for the purposes of sufficient record keeping.