Examples of Participating Shares in a sentence
The subscriber shares carry no voting rights while the Redeemable Participating shares carry voting rights and are entitled to all dividend and capital surplus rights.
Participating shares (Contd)The participating shares meet the definition of a puttable instrument and the directors have assessed the rights and obligations attached to the participating shares and that these participating shares should be accounted as equity instead of financial liability, in accordance with IAS 32, Financial Instruments: Presentation.
The Statement of Financial Position and the Statement of Changes in Net Assets Attributable to Holders of Redeemable Participating Shares deal only with the Redeemable Participating shares and do not include the subscriber shares.
Participating shares may be issued and redeemed at prices based upon each class’s underlying net asset value.StructureThe Company offers investors a choice of classes (each such class being referred to as a “Class Fund”) and the opportunity to switch from one Class Fund to another.
These notes were converted on 4 April 2017 at a 20% discount to the preferential valuation of V-Nova at the time, of £100 million.On 5 April 2017, the Company announced that it was granted the right to exercise an early conversion of the £500,000 loan note with V Nova Ltd into 7,284,382 Series B1 Participating shares at a 20% discount to a preferential valuation for V-Nova at £100 million.