5 million for the fiscal year ending June 30, 2010, the escrow agent will transfer, for no additional consideration, one escrowed share
for each exercised right.
NovaGold issued such press release on June 3, 2013 and advised the Escrowed Shares
will be released to Gerald McConnell and Angus MacIsaac, the registered holders of the Escrowed Shares
, on August 5, 2013.
Matthew will vote the escrowed shares
and his shareholding, in total, will
The shares will remain in escrow until the Company's 2009 Annual Meeting of Stockholders, at which time the issuance of the escrowed shares
will be submitted for stockholder approval.
The TSX-V has confirmed that the Escrowed Shares
(assuming conversion and/or exercise) will be released from escrow upon receipt by the Company of shareholder approval to a 5:1 consolidation.
The remaining 2,777,779 escrowed shares
will be released
In the event that Able's Board, in exchange for additional consideration from AAP, agrees to assume AAP's obligations as to certain convertible debentures it had previously issued, then the escrowed shares
will be issued to the debenture holders that elect to convert their debentures to Able common stock, with any remaining escrowed shares
to be released to AAP.
As part of the Company's listing requirements, an aggregate of 4,799,239 common shares controlled by Company Officers and Directors will be subject to the TSX-V's value security escrow requirements, applicable to a Tier 1 issuer, and will be released from escrow as follows: 25% of the escrowed shares
at the time of listing and 25% of the escrowed shares
every six months thereafter.
These escrowed shares
, approximately 90% of which are held by directors and officers of the Company, were scheduled to be released in six month increments up until July 22, 2009.
Cox has waived his right to vote the escrowed shares
and he has also waived his right to receive any dividends or other distributions by TaxMasters with respect to the escrowed shares
4 and the Escrow Agreement provides for automatic releases of the Escrowed Shares
at the following dates:
China Sky One Medical" or "the Company") , a leading fully integrated pharmaceutical company producing over-the-counter drugs in the People's Republic of China ("PRC"), today announced that an extension notification filed with the Securities and Exchange Commission for its Annual Report on Form 10-K on March 31, 2009, is related to a technical non-cash accounting issue regarding the treatment of 3 million shares of the company's stock owned by China Sky One's Chairman that were placed in escrow as part of its private placement on January 31, 2008 as part of a "make good" provision to achieve specified earnings per share targets, because if the company achieved the targets for both 2007 and 2008, the escrowed shares
will be returned to the company's chairman.