Examples of Parent ADS in a sentence
At the Effective Time, each issued and outstanding share of common stock of the Company (each, a "Share") (excluding any Shares held in treasury of the Company or owned, directly or indirectly, by Parent or Merger Sub immediately prior to the Effective Time) was cancelled and converted into the right to receive 1.5117 (the "Exchange Ratio") American Depositary Shares of Parent ("Parent ADS") representing six ordinary shares of Parent ("Parent Ordinary Shares").
No certificate or scrip representing fractional Parent ADSs or Merger Ordinary Shares will be issued in the Merger upon the surrender for exchange of Certificates, and such fractional Parent ADS or Merger Ordinary Share interests will not entitle the owner thereof to vote or to any rights of a holder of Parent ADSs or Merger Ordinary Shares.
For purposes of this Section 3.1(d)(i), the term “Option Exchange Ratio” shall mean the sum of: (A) the Exchange Ratio and (B) the quotient of (I) $39.90, divided by (II) the closing price per Parent ADS on the Business Day immediately preceding the Effective Time (as reported by Nasdaq on such Business Day).
See the discussions of “Section 2252A” and ““Section 2256,” below.
Under applicable federal income tax rules, one reasonable approach to determine the fair market value of each Parent ADS received in the Transaction is the average of the highest and lowest quoted selling prices ($58.06 and $57.53, respectively) of one Parent ADS on the Effective Date, or $57.795.Former shareholders of the Company should consult their own tax advisors regarding their specific tax treatment of the Transaction (including but not limited to the computation of gain and tax basis).Line 17.