Rights Issue. In the event that at any time or from time to time after the date hereof, the Company shall issue, sell, distribute or otherwise grant any rights to subscribe for or to purchase, or any options or warrants for the purchase of, or any securities exercisable for, or convertible or exchangeable into, Common Stock to all holders of Common Stock, entitling such holders to subscribe for or purchase shares of Common Stock or securities exchangeable for, or convertible or exchangeable into, Common Stock, whether or not immediately exercisable, convertible or exchangeable, as the case may be, and the subscription or purchase price per share of Common Stock or the price per share of Common Stock issuable upon exercise, conversion or exchange thereof is lower at the record date for such issuance than the then Fair Market Value per share of Common Stock, the number of shares of Common Stock thereafter purchasable upon the exercise of this Warrant shall be determined by multiplying the number of shares of Common Stock purchasable upon the exercise of this Warrant prior to the record date by a fraction, (A) the numerator of which shall be the number of shares of Common Stock outstanding on the date of issuance of such rights, options, warrants or other securities plus the number of additional shares of Common Stock offered for subscription or purchase or into or for which such securities are exercisable, convertible or exchangeable, and (B) the denominator of which shall be the number of shares of Common Stock outstanding on the date of issuance of such rights, options, warrants or other securities plus the total number of shares of Common Stock which could be purchased at the Fair Market Value with the aggregate consideration received through the issuance of such rights, options, warrants, or other securities. In the event of any such adjustment, the Exercise Price shall be adjusted to a number determined by dividing the Exercise Price immediately prior to such date of issuance by the above fraction. Such adjustment shall be made whenever such rights, options or warrants are issued and shall become effective retroactively immediately after the record date for the determination of stockholders entitled to receive such rights, options, warrants or securities. If the Company at any time shall issue two or more securities as a unit and one or more of such securities shall be rights, options or warrants for or securities exercisable for, or convertible or exchangeable into,...
Rights Issue. (a) Whenever any rights to acquire shares or other securities or other rights of any nature are granted by the Parent Company to its share-holders each Participant shall be notified by the Trustee of the rights related to his Scheme Shares and the Participant may instruct the Trustee to take up all or part of such rights or to sell all or part of his rights or allow them to lapse, subject to the provision by him of any necessary funds and to the terms of such rights granted by the Parent Company to its shareholders. The Trustee shall act upon such instruction received by it not less than seven (7) business days before the expiration of the period allowed for the exercise of any such rights.
Rights Issue. In case the Company, prior to redemption, shall issue rights, options, warrants or convertible securities to all holders of the Common Stock entitling them to subscribe for or purchase Common Stock or securities convertible into Common Stock at a price per share less than the current value of the Common Stock (as determined in accordance with Section 4.6 below) on the record date for the issuance of such securities, instruments or rights or the granting of such securities, options or warrants, as the case may be, the Warrant Price to be in effect after the record date for the issuance of such rights or the granting of such options or warrants shall be determined by multiplying the Warrant Price in effect immediately prior to such record date by a fraction, the numerator of which shall be (i) the sum of (a) the number of shares of Common Stock outstanding immediately prior to such sale and (b) the number of shares of Common Stock which could be purchased at the current value of the Common Stock (as determined in accordance with Section 4.6 below) with the consideration received by the Company upon such sale, and the denominator of which shall be the total number of shares of Common Stock that would be outstanding immediately after such sale if the full amount of convertible securities, options, rights, or warrants were exercised immediately after the sale. Additionally, the number of shares of Common Stock purchasable upon exercise of each Warrant shall simultaneously be adjusted by multiplying the number of shares of Common Stock issuable upon exercise of each Warrant by the Warrant Price in effect immediately prior to the adjustment made and under this Section 4.4 and dividing the product so obtained by the Warrant Price in effect immediately after the adjustment. In the event such securities, instruments or rights shall change or expire, or such convertible securities shall not be converted, any adjustment previously made hereunder shall be readjusted to such as would have obtained on the basis of the rights as modified by such change or expiration.
Rights Issue. All references to “rights offering” in subsection 4.1.1 of the Existing Warrant Agreement are hereby deleted and replaced with “rights issue”.
Rights Issue. For exercising and trading of the rights issue, investors have to pay attention to the deadline and other timelines. Rights issues that are not exercised will have no value upon expiry. But if investors decide to let the rights lapse, then investors will not need to take any action unless investors want to sell the rights in the market. In that case, the rights must be sold during the specified trading period within the subscription period, after which they will become worthless. If investors pass up the rights, the shareholding in the expanded capital of the company will be diluted. Leveraged and Inverse Investment Product Certain Products are collective investment scheme falling within Chapters 8.6 and 8.4A and Appendix I of the Code on Unit Trusts and Mutual Funds (the “Code”). Certain Products may also be subject to additional Chapters of the Code. Certain Trust and Products are authorized by the SFC in Hong Kong under Section 104 of the Securities and Futures Ordinance. The Leveraged Products will utilize leverage to achieve a daily return equivalent to (x) times the return of the Index. Both gains and losses will be magnified. The risk of loss resulting from an investment in the Products in certain circumstances including a bear market will be substantially more than a fund that does not employ leverage. The Inverse Products track the inverse daily performance of the Index. Should the value of the underlying securities of the Index increase, it could have a negative effect on the performance of the Products. Unitholders could, in certain circumstances including a bull market, face minimal or no returns, or may even suffer a complete loss, on such investments.
Rights Issue. In the event of a rights issue, the Client shall receive the option to either, (i) exercise the rights option; or (ii) hold the rights until maturity and not exercise the option.
Rights Issue. In case the Company shall issue rights, options or warrants to all holders of its outstanding Common Stock, entitling them to subscribe for or purchase Common Stock at a price per share which is lower at the record date mentioned below than the then current market price per share of Common Stock (as defined in subparagraph (d) below), the number of shares of Common Stock thereafter purchasable upon the exercise of the Warrant shall be determined by multiplying the number of shares of Common Stock theretofore purchasable upon exercise of the Warrant by a fraction, of which the numerator shall be the number of shares of Common Stock outstanding on the date of issuance of such rights, options or warrants plus the number of additional shares of Common Stock offered for subscription or purchase, and of which the denominator shall be the number of shares of Common Stock outstanding on the date of issuance of such right, options or warrants plus the number of shares of Common Stock which could be purchased at the current market price per share of Common Stock at such record date with: (i) the aggregate purchase price of the total number of shares of Common Stock so offered for subscription or purchase, plus (ii) any consideration received by the Company for such rights, options or warrants. Such adjustment shall be made whenever such rights, options or warrants are issued, and shall become effective immediately after the record date for the determination of stockholders entitled to receive such rights, options or warrants.
Rights Issue. 14 SECTION 4.4
Rights Issue. If, at any time while this Warrant is outstanding, an offer or invitation is made by the Company to some or all of holders of Ordinary Shares to subscribe for shares, options or other securities of the Company on a pro rata basis, the Exercise Price shall be reduced as specified in ASX Listing Rule 6.22 in relation to pro rata issues (except bonus issues).
Rights Issue. As previously announced, the Company is intending to undertake a non-renounceable pro rata entitlement offer to eligible shareholders (Rights Issue). The Company has now finalised the terms of the proposed Rights Issue, pursuant to which it seeks to raise approximately $4.2 million (before costs). The funds raised will be used for the completion of the Borborema Gold Project Bankable Feasibility Study; continued development and maintenance of the Borborema and Juruena Gold Projects in Brazil; costs of the Rights Issue and general working capital purposes. The Company intends on offering eligible shareholders the opportunity to subscribe for four new shares for every five shares held on the record date for the Rights Issue, at an issue price of $0.01 per share. Eligible shareholders will also be entitled to subscribe for shortfall shares in addition to their entitlement. Subscribers in the Rights Issue will also be issued one free-attaching option for every three new shares subscribed for, exercisable at $0.02 each and expiring three years from the date of issue. Partial Underwriting The Company is pleased to announce that it has successfully concluded its discussions with its major shareholder, the Copulos Group, and executed a binding conditional underwriting agreement for a partial underwriting of the Rights Issue (Underwriting Agreement). The Copulos Group has agreed to underwrite $2.5 million of the Rights Issue pursuant to the terms of the Underwriting Agreement. The Company has been exploring a range of capital-raising alternatives over a number of months and considers that the terms proposed by the Copulos Group under the Underwriting Agreement are superior to those offered by any other parties at this time. This conclusion has been reached in light of the terms of the Underwriting Agreement and the timing and quantum of the Company’s funding requirements. The Company is grateful for the ongoing support of the Copulos Group. The partial underwriting is in addition to the $1.5 million of interim funding the Copulos Group has provided to the Company over recent months by its subscription of convertible notes. The material terms and conditions of the Underwriting Agreement are summarised in the schedule to this announcement. Importantly, the Company notes that the Underwriting Agreement is a related party transaction under the ASX and AIM rules and the Corporations Act, and is subject to shareholder approval. Further terms and conditions of the underwr...
