Share Cancellation definition

Share Cancellation. As defined in Section 6 hereof.

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Share Cancellation has the meaning given to it in clause 11.1.2;

Share Cancellation means the cancellation by Wellington Merchants of four-fifths of all of its ordinary shares on issue which completed on 29 February 2016;

Examples of Share Cancellation in a sentence

• Sponsor hereby agrees that following the consummation of the Share Cancellation but immediately prior to the Second Merger Effective Time and subject to consummation of the Second Merger, 2,050,000 SPAC Private Placement Warrants held by Sponsor shall be transferred to the Company Shareholders for no consideration and effective as of the Second Merger Effective Time.

• The purchase price for the Second Share Cancellation shall be the lower of (i) $0.19 per share and (ii) the last closing price before the Second Share Cancellation is completed.

• The purchase price for the First Share Cancellation shall be the lower of (i) $0.19 per share and (ii) the last closing price before the First Share Cancellation is completed.

• On the Distribution Date, LQ Parent shall cause the Distribution Agent to distribute, on a pro rata basis, and in consideration for the LQ Parent Share Cancellation, all of the outstanding shares of CPLG Common Stock then owned by LQ Parent to holders of LQ Parent Common Stock on the Distribution Record Date, and to credit the appropriate number of such shares of CPLG Common Stock to book entry accounts for each such holder or designated transferee or transferees of such holder of CPLG Common Stock.

• The purchase price for the Final Share Cancellation shall be the lower of (i) $0.19 per share and (ii) the last closing price before the Final Share Cancellation is completed.

• On the completion of a Share Cancellation Transaction, the Shareholder will cease to have any right to or in respect of the Escrow Shares to be sold in connection with such Share Cancellation Transaction except the right to receive, without interest, the purchase price for such Escrow Shares deposited with the Issuer’s banker.

• Upon such execution and delivery of such documents by the Issuer, the Issuer will proceed with completing the applicable Share Cancellation Transaction and the validity of the proceeding will not be subject to question by any person including the Escrow Agent.

• Following the Share Cancellation referred to in Section 2.3 hereof, and not taking into account the issuance of the Acquiror Common Stock at Closing, on the Closing Date, 6,325,000 shares of Acquiror Common Stock will be issued and outstanding.

• Tryg (with the support of its legal advisers) shall, in accordance with Applicable Law: (i) prepare all the documents required for the Codan General Meeting and Share Cancellation General Meeting in consultation with Intact; (ii) be (or shall appoint a representative of its legal advisers to be) chairperson of the general meetings; and (iii) be authorised and required to file the Share Cancellation by ScandiJVCo with the Danish Business Authority.

• Immediately after the Effective Time of the Merger, 28,000,000 shares of Parent Common Stock held by ▇▇▇▇▇▇ ▇▇▇▇▇ shall be automatically cancelled, further to a separate Share Cancellation Agreement.

More Definitions of Share Cancellation

Share Cancellation means the repurchase by the Company for NIL cost and cancellation of 2,600,000 Seed Shares effected on July 20, 2021;

Share Cancellation means the cancellation by Kirkcaldie & Stains of four-fifths of all of its ordinary shares on issue which completed on 29 February 2016;

Share Cancellation has the meaning set forth in Section 7.3(k) hereto;

Share Cancellation has the meaning ascribed in Section 5.1(5);