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 “Whitewash Waiver” a waiver to be granted by the Executive pursuant to Note

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

Examples of Untaken Shares in a sentence

• In the event of an undersubscription of the Rights Issue, any Untaken Shares together with the NQS Unsold Shares will be placed on a best efforts basis by the Placing Agent to independent placees under the Placing.

• According to the Letter from Board, the Company would make arrangements described in Rule 7.21(1)(b) of the Listing Rule to dispose of the Untaken Shares and the NQS Unsold Shares by offering the Untaken Shares and the NQS Unsold Shares to independent placees for the benefit of Shareholders to whom they were offered by way of the Rights Issue (i.e. the Compensatory Arrangements).

• 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.

• Any Untaken Shares and/or NQS Unsold Shares remain not placed under the Placing will not be issued by the Company and the size of the Rights Issue will be reduced accordingly.

• As soon as possible after the Acceptance Date but prior to 4:00 p.m. on the Business Day immediately following the Acceptance Date, the Company shall (after consultation with the Underwriter) reasonably determine and notify the Underwriter in writing of: (a) the aggregate number of Untaken Shares; and (b) the basis of allocation of the Rights Shares in respect of Excess Application Forms.

More Definitions of Untaken Shares

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

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 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 the Unsubscribed Shares not placed to others after the Placing; “Whitewash Waiver” the whitewash waiver pursuant to Note 1 on dispensations from Rule 26 of the Takeovers Code of the obligations on the part of the Underwriter to make a mandatory general offer under Rule 26 of the Takeovers Code for all the securities of the Company not already owned or agreed to be acquired by the Underwriter and any parties acting in concert with it as a result of taking up of the consolidated Rights Shares by the Underwriter pursuant to this Agreement; “HK$” Hong Kong Dollars; and “%” per cent.

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

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;