Proportional Takeover Bid definition

Proportional Takeover Bid means an off-market bid that is made or purports to be made under section 618(1)(b) of the Corporations Act in respect of a specified proportion of shares included in a class of shares in the Company; and

Proportional Takeover Bid means a takeover bid that is made or purports to be made under the Act in respect of securities included in a class of securities in the Company; and

Proportional Takeover Bid means an off-market bid for a specified proportion of the Company’s securities held by each shareholder in a class for which a takeover bid has been made. It is not a bid for all securities held by all members of that class, only part of the securities each holds.

Examples of Proportional Takeover Bid in a sentence

• The bidder under a Proportional Takeover Bid and any associates of the bidder are not entitled to vote on the Approving Resolution and if they do vote, their votes must not be counted.

• Relevant Class in relation to a Proportional Takeover Bid, means the class of securities in the company in respect of which offers are made under the Proportional Takeover Bid.

• The bidder under a Proportional Takeover Bid and any associates of the bidder are not entitled to vote on the Approving Resolution relating to that Proportional Takeover Bid and, if they do vote, their votes must not be counted.

• Despite rules 5.1(c) and 5.2, a transfer giving effect to a contract resulting from the acceptance of an offer made under a Proportional Takeover Bid must not be registered unless an Approving Resolution has been passed or is taken to have been passed in accordance with rule 6.3.

• Subject to rule14.3(c), a person who, as at the end of the day on which the first offer under the Proportional Takeover Bid was made, held bid class shares is entitled to vote on the Approving Resolution relating to the Proportional Takeover Bid.

More Definitions of Proportional Takeover Bid

Proportional Takeover Bid means a takeover bid that is made or purports to be made under section 618 of the Act in respect of shares included in a class of shares in the Company.

Proportional Takeover Bid means a takeover bid of the type referred to in s.618(1)(b) of the Act;

Proportional Takeover Bid means a Takeover Bid for a specified portion of all shares;

Proportional Takeover Bid means a takeover scheme in accordance with section 635 (b) of the Act;

Proportional Takeover Bid means anoff-market bid for a specified proportion of the securities in the bid class (see paragraph 618(1)(b)).

Proportional Takeover Bid means a Takeover Bid for a specified proportion of all shares or CDIs;

Proportional Takeover Bid means an off-market bid for a specified proportion of the Company’s securities in a class of securities for which a takeover bid has been made. It is not a bid for all securities held by all members of that class, only proportion of the securities each holds. Accordingly, if a Shareholder accepts the offer in full under a proportional takeover bid, the Shareholder will dispose of the specified portion of their Shares in the Company and retain the balance of their Shares.