Examples of Conversion Share in a sentence
The Company may, in its sole and absolute discretion, following the occurrence of an Automatic Conversion and no later than 10 (ten) Business Days following the Conversion Date, elect that the Conversion Shares Depository make an offer of all or some of the Conversion Shares to all or some of the Company’s ordinary shareholders at a cash price per Conversion Share equal to the Conversion Price, as set forth in and subject to the provisions of Section 2.10 of the Eleventh Supplemental Indenture.
Following an Automatic Conversion, the Issuer may, in its sole and absolute discretion, elect that the Conversion Shares Depository make an offer of all or some of the Conversion Shares to all or some of the Issuer’s ordinary shareholders at such time at a cash price per Conversion Share equal to the Conversion Price, as further described in the Preliminary Prospectus Supplement.
If the Company fails to cause the Transfer Agent to transmit to the Holder the Conversion Shares pursuant to Section 4(c)(i) by the Conversion Share Delivery Date, then the Holder will have the right to rescind such conversion.
Ten (10) business days after the fulfilment (or waiver) of the conditions precedent in paragraph 3.1(12) below (the “Completion Date”), up to S$1.5 million of the outstanding Loans under the Convertible Loan shall be automatically capitalised and converted into such number of Conversion Shares equivalent to the aggregate unpaid sums under the said Loans, at a conversion price of S$0.006 (or 0.60 cents) per Conversion Share (the “Conversion Price”).
The Conversion Price of S$0.006 for each Conversion Share represents a discount of approximately 53.8% to the volume weighted average price of S$0.013 per Share for trades done on the Main Board of the SGX-ST on 3 April 2019, being the last full Market Day on which the Company’s Shares were traded prior to the execution of the Convertible Loan Agreement.