Statutory Shareholding definition

Statutory Shareholding means the minimum Current Shareholding by the Vendor which is required, in the reasonable assessment of Anooraq, from time to time in order for the Vendor to qualify as an HDP, which upon the Signature Date constitutes 52% in respect of Anooraq and 100% in respect of the Vendor;
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Statutory Shareholding has the same meaning as such term in the Share Exchange Agreement;
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Statutory Shareholding means the minimum shareholding required to be held (on a fully diluted basis) by Pelawan in Anooraq in order for Anooraq to qualify as an HDP, currently being 52% of the issued and outstanding Anooraq Shares;
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Examples of Statutory Shareholding in a sentence

  • The BEE Warrants shall be exercised in the event that the Company undertakes a Concurrent Financing, in which event Holder shall exercise at least that number of BEE Warrants that is necessary to ensure at minimum that the Statutory Shareholding of the Holder in the issued share capital of the Company is maintained after the closing of such Concurrent Financing.

  • If, during the Financing Period, a Dilutive Financing occurs or, in accordance with Section 2.06(3) is deemed to occur, and results, or is deemed to result, in the Current Shareholding falling below the Xxxxxxxxx Xxxxxxxxxxxx, Xxxxxxx shall, within five Business Days of Financial Close in respect of such Dilutive Financing, issue that number of Adjustment Consideration Shares to the Vendor as may be required to make the Current Shareholding equal to the Statutory Shareholding.

  • Those additional shares will be held in escrow and will be cancelled in the event that the minimum Statutory Shareholding is subsequently reduced by South African legislation.

  • This obligation will apply even if the minimum Statutory Shareholding required in order for Anooraq to qualify as HDP isreduced by legislative amendment prior to the Release Date.

  • If, following the Finalization Date, further Anooraq Shares are issued pursuant to acquisitions or financings by Anooraq and the resultant dilution causes Pelawan's shareholding to fall below the minimum Statutory Shareholding, Anooraq will be entitled (but not obliged) to issue additional shares to Pelawan to maintain that minimum Statutory Shareholding.

Related to Statutory Shareholding

  • Company Shareholders means holders of Company Shares.

  • Ordinary Shareholders means the holders of the Ordinary Shares of the Company.

  • Common Shareholders means the registered and/or beneficial holders of the Common Shares, as the context requires.

  • Fully Diluted Company Shares means the total number of issued and outstanding shares of Company Common Stock, (a) after giving effect to the Company Preferred Stock or otherwise treating shares of Company Preferred Stock on an as-converted to Company Common Stock basis, and (b) treating all outstanding in-the-money Specified Company Warrants as fully vested and as if the Specified Company Warrants had been exercised for cash as of the Effective Time, but for the avoidance of doubt excluding any Company Securities described in Section 1.11(b).

  • Company Shares means the common shares in the capital of the Company;

  • Ordinary Shareholder means a holder of ordinary shares;

  • Merger Shares has the meaning set forth in Section 2.2(c).

  • Subco Shares means the common shares in the capital of Subco;

  • Buyer Preferred Stock means the preferred stock, par value $0.001 per share, of Buyer.

  • Parent Shares means the shares of common stock, par value $1.00 per share, of Parent.

  • Company Shareholder Approval has the meaning set forth in Section 4.03(d).

  • Merger Sub Common Stock means the common stock, par value $0.01 per share, of Merger Sub.

  • Amalco Shares means the common shares in the capital of Amalco;

  • Pubco Shares means the 15,000,000 fully paid and non-assessable common shares of Pubco, to be issued to the Selling Shareholder by Pubco on the Closing Date;

  • Company Shareholder means a holder of one or more Company Shares;

  • Capital Shares means the Common Stock and any shares of any other class of common stock whether now or hereafter authorized, having the right to participate in the distribution of earnings and assets of the Company.

  • Common Shares means the common shares in the capital of the Corporation;

  • Subsidiary Shares has the meaning ascribed to it in Section 3.3(a).

  • Company Share means one share of common stock of the Company, $0.01 par value per share.

  • Shares means the shares of Common Stock issued or issuable to each Purchaser pursuant to this Agreement.

  • Equity Shares means the Common Shares and any shares of any other class or series of the Corporation which may from time to time be authorized for issue if by their terms such shares confer on the holders thereof the right to participate in the distribution of assets upon the voluntary or involuntary liquidation, dissolution or winding up of the Corporation beyond a fixed sum or a fixed sum plus accrued dividends;

  • Common Stockholders means holders of shares of Common Stock.

  • Scheme Shareholders means the registered holders of Scheme Shares at the relevant time.

  • Employee Share Scheme means a scheme established by a company, whether by means of a trust or otherwise, for the purpose of offering 10 participation therein solely to employees and officers of the company or a subsidiary of the company, either—

  • Newco Shares means the common shares in the capital of Newco;

  • Parent Shareholder Approval means the approval of (a) the Parent Share Issuance at the Parent Shareholders Meeting by the affirmative vote of a majority of the total votes cast by the holders of Parent Common Stock entitled to vote thereon, (b) the Parent Charter Amendment at the Parent Shareholders Meeting by the affirmative vote of a majority of the shares of Parent Common Stock outstanding and entitled to vote thereon and (c) the Parent Bylaw Amendment at the Parent Shareholders Meeting by the affirmative vote of a majority of the outstanding shares of Parent Common Stock entitled to vote thereon.