Examples of Worthington Steel Stock in a sentence
The Form 10 registering the Worthington Steel Stock shall be effective under the Exchange Act, with no stop order in effect with respect thereto, and the Information Statement included therein shall have been mailed to New Worthington’s shareholders as of the Record Date.
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On or prior to the Distribution Date, New Worthington shall deliver to the Agent, for the benefit of the Record Holders, duly executed transfer forms for such number of the outstanding shares of Worthington Steel Stock as is necessary to effect the Distribution.
Worthington Steel and New Worthington agree that from and after the Effective Time each such holder will be entitled to receive all dividends payable on, and exercise voting rights and all other rights and privileges with respect to, the Worthington Steel Stock then deemed to be held by such holder.
Effective as of the Effective Time, Worthington Steel shall adopt the Worthington Steel Stock Plan, which shall permit the grant and issuance of equity incentive awards denominated in Worthington Steel Common Stock as described in this Article IV.
Neither New Worthington nor Worthington Steel shall be required to guarantee any minimum sale price for the fractional shares of Worthington Steel Stock.
The Worthington Steel Stock to be distributed to the New Worthington shareholders in the Distribution shall have been accepted for listing on the NYSE, subject to official notice of distribution.
All of the shares of Worthington Steel Stock distributed will be validly issued, fully paid and non-assessable.
Worthington Steel agrees to update its register of members in relation to the transfers of Worthington Steel Stock that New Worthington or the Agent shall require in order to effect the Distribution.
New Worthington shall instruct the Agent to distribute, as soon as practicable following the Effective Time, to each Record Holder the following: (i) [ ⚫ ] shares of Worthington Steel Stock for every [ ⚫ ] shares of New Worthington Stock held by such Record Holder as of the Record Date and (ii) cash, if applicable, in lieu of fractional shares obtained in the manner provided in Section 3.2(c).