Examples of Series L Shares in a sentence
The Series L Shares is not entitled to any preemptive or subscription rights in respect of any securities of the Corporation.
ConclusionIn view of the foregoing, the Bank’s Management Board believes that the exclusion of the pre- emptive rights of the Bank’s existing shareholders, in connection with the issuance of the Series L Shares, is in the Bank’s best interests, results from its strategy and development plans and is necessary due to the specific nature of the issue which involves making an in-kid contribution.
That the Series L Shares will be issued by way of a private subscription within the meaning of Article 431 § 2(1) of the CCC through the offering of the Series L Shares by the Bank’s Management Board to Santander Consumer Finance S.A. with its registered office in Madrid (“SCF”).
Exclusion of the pre-emptive rights with respect to the Series L SharesThe issue of the Series L Shares and the making of the corresponding in-kind contribution in the form of 3,120,000 (three million, one hundred and twenty thousand, i.e. 1,040,001 preferred shares and 2,079,999 ordinary shares) shares with a nominal value of PLN 100 (one hundred zlotys) each in the share capital of Santander Consumer Bank S.A. with its registered office in Wrocław and postal address: ul.
The issue of the Series L Shares in exchange for the In-Kind Contribution will enable the Bank to take control over SCB without the necessity for the Bank to spend significant funds or incur debt.
The Series L Shares will be paid for by SCF prior to the registration of the increased share capital, entirely in the form of the In-Kind Contribution.Ms Bożena Graczyk, a statutory auditor appointed by the competent registry court, has issued an opinion on the report of the Bank’s Management Board regarding the in-kind contributions made in order to cover for the increased share capital and Citigroup Global Markets Limited has issued a fairness opinion on the fair value of the In-Kind Contribution.23.
Holders of the Series L Shares shall not be entitled to any dividends, whether paid in cash, property or stock, in excess of the cumulative dividends as provided in this paragraph (a) and shall not be entitled to any interest thereon.
If any accrued dividends are not paid or set apart with respect to the Series L Shares and any Parity Securities, all dividends declared with respect to the Series L Shares and any Parity Securities shall be declared pro rata on a share-by-share basis among all Series L Shares and Parity Securities outstanding at the time.
The Series L Shares shall, with respect to dividend rights and rights upon liquidation, dissolution and winding up, rank prior to the Common Stock.
The grievance hearing committee shall schedule a hearing within ten working days of the notification of the complaint and notify the ADA Coordinator of the hearing date, time, and place.