Examples of Creditor Shares in a sentence
Under the terms of the Creditor Lock-Up Agreement, Creditor Shares (which shall include the New Equity Warrants and the New Warrant Shares but shall exclude any Creditor Shares issued pursuant to the Top-Up Election) held by Restructuring Plan Creditors and their designated nominees whose holdings represent more than 2.7 per cent.
The Creditor Shares were issued under the Company’s existing capacity under Listing Rule 7.1A.
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The gain on discharge of liabilities of HK$ 2,636 million represents the excess of liabilities discharged over the cash consideration of approximately HK$106 million and the issuance of Creditors Shares valued at approximately HK$338 million, such amount was derived from 3,881,437,269 Creditor Shares times the issue price of HK$0.087 per share, which is deemed as the shares’ fair value.
On 24 October 2017, the Company issued 77,333,334 Shares to creditors of the Company in lieu of payment for services provided (Creditor Shares), including in relation to corporate advisory and media marketing services and research undertaken in relation to the Company.