Stated Capital Reduction definition

Stated Capital Reduction means the proposed reduction of the stated capital account of the Restricted Voting Shares by an aggregate amount equal to $1.45 billion, for the purposes of

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Stated Capital Reduction means the reduction of the stated capital account maintained in respect of the Brigus Shares to CDN$217 million.

Stated Capital Reduction means the reduction in the stated capital account in respect of the MFC Common Shares pursuant to the Arrangement;

Examples of Stated Capital Reduction in a sentence

CBCA Matters The Company will seek to continue into the federal jurisdiction of Canada under the CBCA (the "Federal Continuance"), and may seek to reduce its stated capital in respect of the Common Shares (the "Stated Capital Reduction") prior to the implementation of the Plan, in order to implement the Plan pursuant to the CBCA.
At the Meeting, Shareholders will be asked to consider the Stated Capital Reduction Resolution and the Share Consolidation Resolution in the forms set forth in Appendix A and Appendix B, respectively, to this proxy statement.
Stated Capital Reduction The Stated Capital Reduction may be required prior to the implementation of the Plan or as a step in the Plan, to ensure that the Company meets CBCA solvency requirements post-Recapitalization Transaction.
Unless otherwise directed, the persons named in the accompanying form of proxy for the Meeting intend to vote FOR the Stated Capital Reduction Resolution set forth in Appendix A to this proxy statement.
As stated above, the Company does not propose to effect the Share Consolidation unless and until the Stated Capital Reduction Resolution has been approved by Shareholders and the Return of Capital has been paid to holders of Restricted Voting Shares.
See Appendix A to this proxy statement for the full text of the Stated Capital Reduction Resolution.
After giving effect to the Stated Capital Reduction and the payment of the Return of Capital, the aggregate stated capital of the Restricted Voting Shares will be reduced by $1.45 billion to approximately $0.33 billion.
Notwithstanding the foregoing, the Stated Capital Reduction Resolution proposed for consideration by the Shareholders authorizes the Board, without further notice to or approval of Shareholders, to revoke the Stated Capital Reduction Resolution at any time prior to its being given effect.
The Stated Capital Reduction will reduce the paid-up capital (as defined in the Tax Act) (‘‘PUC’’) of the Restricted Voting Shares by an amount equal to the Stated Capital Reduction.
The Stated Capital Reduction Resolution, the full text of which is set forth in Appendix A, must be approved by a majority of not less than two-thirds of the votes cast by Shareholders, voting together as a single class, present in person or represented by proxy at the Meeting.

More Definitions of Stated Capital Reduction

Stated Capital Reduction means the proposed reduction of the stated capital account of the Common Shares by an aggregate amount equal to $1,010,500,000 for the purposes of effecting the Return of Capital portion of the Distribution.

Stated Capital Reduction has the meaning ascribed thereto in Section 3.1(f);

Stated Capital Reduction means the reduction of the stated capital account maintained for the New Common Shares or Common Shares, as applicable, by an amount that is equal to the amount of the deficit of Compton on the Effective Date.

Stated Capital Reduction means the reduction of the stated capital of the Common Shares by an aggregate amount equal to the Cash Distribution Amount multiplied by the number of issued and outstanding Common Shares as at the Cash Distribution Record Date, for the purpose of effecting a one-time special distribution of an amount equal to the Cash Distribution Amount for every Common Share held by way of a return of capital, all as further detailed in the Information Circular under the heading “Particulars of Matters To Be Acted Upon – Cash Distribution and Stated Capital Reduction”;