Dividend Arrears definition
Dividend Arrears means an amount equal to the aggregate of all unpaid Quarterly Dividends on the Series A Preference Shares in respect of which the Conversion Right has been exercised, accruing from the date of issuance thereof to the date of exercise of the Conversion Right, whether or not such Quarterly Dividends have been declared.
Examples of Dividend Arrears in a sentence
As a priority application before the apportionment of the balance of the Cash Consideration there shall be first paid to New Wave the sum of £[**] being equal to the aggregate Issue Price (as defined in the articles of association of the Company) together with the Dividend Arrears on the Preference Shares.
Preferred Shares the 3,288,213 preference shares of £0.01 each of the Company, all of which are issued fully paid, and in respect of which £649,548.80 of dividends are in arrears (the Dividend Arrears).