First Subscription Shares definition
Examples of First Subscription Shares in a sentence
The First Subscription Price for the First Subscription Shares shall be HK$39,000,000 payable by the Investors to the Company in cash in US$ denomination on Completion.
Upon receipt by the Company of the First Subscription Purchase Price as consideration for the issue thereof, the First Subscription Shares will be validly issued and outstanding as fully-paid and non-assessable common shares in the capital of the Company; and the attributes of the First Subscription Shares conform in all material respects with the description the Common Shares contained in the Public Disclosure Record.
Following satisfaction of the First Conditions and provided that neither it nor the Company has exercised its termination rights under Clause 5.4 prior to the time at which the First Conditions are satisfied, GENENCOR agrees to subscribe for the First Subscription Shares.
The Company and the Subscriber hereby authorise their respective solicitors to complete the subscription of the First Subscription Shares on the basis of cross undertakings insofar as it may be necessary to do so.
Subject to clause 2.1, on the First Completion Date, the Subscriber or its nominee agrees to subscribe (in aggregate) for the First Subscription Shares and the Company agrees to allot and issue the First Subscription Shares fully paid to the Subscriber at the Subscription Price.
The First Subscription Price for the First Subscription Shares shall be paid by the Subscriber in full at the First Completion in the manner as set out in Clause 3.1(a).
The Company shall procure the entry of GENENCOR in the register of members of the Company as the registered holder of the First Subscription Shares and the delivery to GENENCOR of appropriate share certificate(s) duly executed by the Company in respect of the First Subscription Shares within 3 business days following First Completion.
Each Investor understands that no representation has been made as to the availability of any exemption under the Securities Act for the reoffer, resale, pledge or transfer of the First Subscription Shares (and, to the extent allotted and issued to the Second Investor, the Second Subscription Shares).