Examples of Cash Consideration Adjustment in a sentence
The table below sets out the number of Consideration Shares to be issued to, and the amount of the Cash Consideration payable to, each of the Sellers and the Consideration Recipients upon Completion, assuming that the Cash Consideration Adjustment is exercised in full.
As noted above, pursuant to the Acquisition Agreement, SMBC will be issued 118,166,110 Consideration Shares at an issue price of HK$27.00 per Share as a Seller of its ARA Shares to the Company (assuming that the Cash Consideration Adjustment is not exercised in full).
Therefore, on Completion, SMBC will be issued a combination of Consideration Securities and SMBC Subscription Shares representing 205,014,113 Shares in aggregate, and 4.6% of the total issued Shares as enlarged by the allotment and issue of the Consideration Shares and SMBC Subscription Shares (assuming the Cash Consideration Adjustment is not exercised).
Therefore, on Completion, SMBC will be issued a combination of Consideration Shares and SMBC Subscription Shares representing 205,014,113 Shares in aggregate, and 4.6% of the total issued Shares as enlarged by the allotment and issue of the Consideration Shares and SMBC Subscription Shares (assuming the Cash Consideration Adjustment is not exercised and no further Shares are repurchased by the Company pursuant to the Repurchase Mandate after the Latest Practicable Date and up to Completion).
Subject to the Cash Consideration Adjustment and assuming no further Shares are repurchased by the Company pursuant to the Repurchase Mandate after the Latest Practicable Date and up to and including the date of Completion, the Total Consideration will be satisfied in the following manner: (i) US$519 million in cash; and (ii) US$4,673 million by the issue of 1,345,898,078 Consideration Shares at the Consideration Share Price.
If the Company elects to make the Cash Consideration Adjustment, the new Shares pursuant to the Permitted Issuance will be issued by the Company pursuant to (i) the Share Issue Mandate granted by the Shareholders to the Board at the annual general meeting held on 2 June 2021 and/or (ii) the Specific Mandate to be obtained from the Independent Shareholders at the EGM.
As noted above, pursuant to the Acquisition Agreement and upon Completion, SMBC will be issued 128,324,764 Consideration Shares at an issue price of HK$27.00 per Share as a Seller of its ARA Shares to the Company (assuming that the Cash Consideration Adjustment is not exercised and no further Shares are repurchased by the Company pursuant to the Repurchase Mandate after the Latest Practicable Date and up to Completion).
Section 2.08(c) Cash Consideration Adjustment......................
An announcement will be published on SENS, ANS and, where required, in the South African press as soon as possible after any Ordinary Share Scheme Cash Consideration Adjustment.
Assuming that the Cash Consideration Adjustment is not exercised and no further Shares are repurchased by the Company pursuant to the Repurchase Mandate after the Latest Practicable Date and up to Completion, the Consideration Shares will represent approximately 44.16% of the existing total issued Shares as at the Latest Practicable Date and approximately 30.11% of the total issued Shares as enlarged by the allotment and issue of the Consideration Shares and the SMBC Subscription Shares.