Examples of Exchangeable Shares in a sentence
The denominator in basic earnings per share includes PPL’s Class B and Class D Exchangeable Shares, since they are exchangeable into and economically equivalent to the Company’s common shares.
PPL is a related party by virtue of holding Class B and Class D Exchangeable Shares that are exchangeable into Shares of the Company.
Post Arrangement Structure Following these steps: (a) Shareholders and placees under the Initial Private Placement will own all of the issued and outstanding Crew Shares; (b) Shareholders will own all of the Exchangeable Shares of AmalgamationCo and all the issued and outstanding Trust Units of the Trust; (c) the Trust will own all of the issued and outstanding common shares of AmalgamationCo; and (d) the Trust will be the holder of all of the issued and outstanding Notes of AmalgamationCo and the NPI.
No Exchangeable Shares will be issued to Non–Residents, Tax–Exempt Shareholders or Option Shareholders.
To the extent that holders of Common Shares elect to receive more than 6,000,000 Exchangeable Shares, the 6,000,000 Exchangeable Shares will be allocated on a pro-rated basis to all holders of Common Shares electing to receive Exchangeable Shares and such holders will be deemed to have elected to receive Notes, which will be exchanged for Trust Units, for the balance of Exchangeable Shares that they would have otherwise received.