Share Placement definition
Examples of Share Placement in a sentence
Shares sold in a Share Placement after the Initial Issuance Date will be issued at a price determined so that the net proceeds received by the Trust are at least equal to the most recently calculated Bitcoin Holdings per Share immediately prior to, or upon, the determination of the pricing of such issuance pursuant to the applicable agreement between the Trust and the underwriter, placement agent or distributor, as applicable.
The material terms and conditions of the EEA Subscription Agreement are summarised below: Subscriber Eagle Eye Asset Holdings Pte Ltd (EEA) Share Placement 150,000,000 ordinary shares in the Company (Placement Shares) at $0.07 per Placement Share to raise $10,500,000 (before costs).
We anticipate entering into a Mutual Release and Share Placement Agreement documenting these terms in the immediate future.
Completion of the Proposed Share Placement shall take place on a date no later than the seventh (7th) business day after the satisfaction of the last of the conditions set out in the Shares Subscription Agreement and Paragraph 4.1 above, or such other date as may be agreed between the parties (the “Share Placement Completion Date”).
Accordingly, pursuant to Rule 906 of the Catalist Rules, the Company is required to obtain the approval of the Shareholders for the Proposed Share Placement.
In view of the Proposed Share Placement, the Placement and the Proposed Acquisition, Shareholders and potential investors should exercise caution when trading in the Shares, and where in doubt as to the action they should take, they should consult their legal, financial, tax or other advisors.
The Directors collectively and individually accept full responsibility for the accuracy of the information given in this announcement and confirm after making all reasonable enquiries that, to the best of their knowledge and belief, this announcement constitutes full and true disclosure of all material facts about the Proposed Share Placement, the Group and the Directors are not aware of any facts the omission of which would make any statement in this announcement misleading.
Commencing one year from the effective date of the Offering, the Company will pay the Agent a commission of 8.0% of the exercise price of the Warrants for Warrant exercised (together with the Share Placement Fee, the “Placement Fee”), payable on the date of such exercise, on the terms provided for in the Warrant, only if permitted under the rules and regulations of the Financial Industry Regulatory Authority, Inc.
Accordingly, the Proposed Share Placement constitutes an IPT within the ambit of Chapter 9 of the Catalist Rules.
As the Placee is an associate of a director of the Company, the Proposed Share Placement will be subject to Shareholders’ approval at an EGM.