Untaken Shares definition

Untaken Shares. Rights Shares not taken up (as defined in Clause 3(D)) at or before 4:00 p.m. on the Acceptance Date, including any Rights Shares to which the Excluded Shareholders would otherwise have been entitled under the Rights Issue if they were to be Qualifying Holders, together with the Scaled-down PAL Shares and the Scaled-down EAF Shares not being applied (whether validly or otherwise) and/or fully paid for under the Excess Application Forms, and unsold aggregation of fractions of Right Shares.

Untaken Shares the Unsubscribed Shares not placed to others after the Placing; and “Whitewash Waiver” a waiver to be granted by the Executive pursuant to Note 1 of the Notes on dispensations from Rule 26 of the Takeovers Code to waive the obligation of the Underwriter to make a mandatory general offer to the Shareholders in respect of the Shares not already owned or agreed to be acquired by the Underwriter and parties acting in concert with it as a result of the subscription of the Offer Shares by the Underwriter pursuant this Agreement.

Untaken Shares means the number of unsubscribed Rights Share(s) not taken up by Qualifying Shareholder(s) or renouncee(s) or transferee(s) of nil paid rights whether under PAL(s) or EAF(s) during the Rights Issue; and

Examples of Untaken Shares in a sentence

• Any Untaken Shares will be underwritten by the Underwriter pursuant to the terms of the Underwriting Agreement.

• Kingston Securities will not subscribe, for its own account, and will procure each of the subscribers of the Untaken Shares (including any direct and indirect ones procured via sub-underwriters) and their respective associates, will not, together with any party acting in concert (within the meaning of the Takeovers Code) with it or its associates, hold 10.0% or more of the voting rights of the Company immediately upon completion of the Open Offer.

• Under the terms of the Underwriting Agreement, each of (i) Head & Shoulders and (ii) each of the subscribers or purchasers of the Untaken Shares procured by it shall not, together with any party acting in concert (within the meaning of the Takeovers Code) with it, hold more than 9.9% of the voting rights of the Company upon completion of the Open Offers.

• As Black Marble Securities is a wholly-owned subsidiary of the Company, it will not hold any Untaken Shares after completion of the Rights Issue.

• The maximum number of the Untaken Shares underwritten by the Underwriter is 15,001,474,104 Offer Shares.

More Definitions of Untaken Shares

Untaken Shares those (if any) of the Underwritten Shares not taken up by the Qualifying Shareholders under the Application Forms and EAFs on or before the Latest Time for Acceptance. For the avoidance of doubt, Qualifying Shareholders shall be deemed to take up (i) firstly, the Underwritten Shares; and

Untaken Shares all those Underwritten Shares for which duly completed Application Forms (accompanied by cheques or banker’s cashier order for the full amount payable on the applications which are honoured on first, or at the option of the Company, subsequent presentation) have not been lodged for acceptance by Qualifying Shareholders, or received, as the case may be, on or before the Latest Time for Acceptance

Untaken Shares means those (if any) of the Rights Shares in respect of which

Untaken Shares. ’ means those (if any) of the Rights Shares in respect of which valid application under the PALs and EAFs (accompanied by remittances for the relevant amounts payable on acceptance or application) have not been received on or before the Latest Time for Acceptance

Untaken Shares means such number of Rights Shares (if any) in respect of which duly completed PAL(s) or EAF(s) have not been lodged for acceptance or not fully paid or otherwise rejected on or before the Latest Time for Acceptance, including any Rights Shares to which the Non-Qualifying Shareholders would otherwise have been entitled under the Rights Issue if they were to be Qualifying Shareholders, together with the Scale-down PAL Shares and the Scale-down EAF Shares not being applied (whether validly or otherwise) and/or fully paid for under the EAFs, and unsold aggregation of fractions of Rights Shares.

Untaken Shares all such Unsubscribed Rights Shares that have not been placed by the Placing Agent or they have been placed but the placees have not paid at 4:00 p.m. on the Latest Time for Unsubscribed Arrangement.

Untaken Shares those Offer Shares for which valid Application Forms or Excess Application Forms duly completed in accordance with the terms and conditions set out in the Open Offer Documents (accompanied by cheques or banker’s cashier orders for the full amount payable on application which are honoured on first or, at the option of the Company, subsequent presentation) have not been lodged for acceptance or received, as the case may be, on or before 4:00 p.m on the Final Acceptance Date;