DON'T allow your Company to remove your pre-emption rights
, dilute your shareholding and, without appropriate forewarning or background information, allow an unknown new shareholder onto the Board of YOUR Company
However, HSBC said the removal of the pre-emption rights
was only designed to ensure a smooth path for the fundraising and would last no longer than the end of the rights issue.
This offer, effectively to underwrite a $100 million placing of new ordinary shares in Petroceltic at a higher price than the current Placing and which would respect pre-emption rights
, was rejected by the Company.
1) amend its articles of incorporation to include a provision that it will adhere to the general principles of the UK's City Code on Takeover and Mergers to the extent reasonably practicable, which is a requirement of Caracal being allocated a UK classification for FTSE UK index series inclusion (as previously announced); and 2) set annual authorization amounts for the allotment of equity securities and dis-application of pre-emption rights
in accordance with UK corporate governance guidelines and make certain amendments to provisions in its articles of incorporation concerning such allotment of equity securities and pre-emption rights
The rest has to do with an agreement for pre-emption rights
and call options entered into with RLB OOe Alu Invest GmbH, a 100% subsidiary of Invest Holding GmbH.
As the Indians waited for the government to waive its pre-emption rights
and consummate the deal with the multinationals, the government asked for time to seek an alternative offer from the Libyans.
Authorization for the Board of Directors to resolve upon a new share issue with deviation from the existing shareholders' pre-emption rights
The Meeting resolved, in accordance with the draft resolution of the Board, on authorizing the Board to resolve upon an increase of the share capital with a maximum of SEK 4.
If new shares are issued under the authorization with pre-emption rights
for existing shareholders, holders of series A shares will have the right to subscribe for A shares and holders of series B shares will have the right to subscribe for B shares in proportion to their existing shareholding.
On 7 July 2015, the Board of Directors of the Company published a circular with recommended proposals to proceed with a share issuance programme for up to 20 million new ordinary shares in the capital of the Company (the "Share Issuance Programme ") and to disapply pre-emption rights
in respect of the same shares (the "Circular ").
The completion of the deal will occur in the next few months, subject to the customary conditions required in this type of deals and to the pre-emption rights
process for existing shareholders.
Number 9 Disapplication of pre-emption rights
(Special Resolution): the figure
i) to decide, during the period up to the next Annual General Meeting, on the issue of new shares with pre-emption rights
for existing shareholders ("rights issue"), whereby holders of shares of series A shall be entitled to subscribe for new A shares and holders of shares of series B shall be entitled to subscribe for new B shares.