The most commonly contested resolutions were authorities to issue shares without pre-emptive rights
(which also received the highest level of shareholder opposition), followed by remuneration-related resolutions and director elections.
The pre-emptive rights
period is expected to run from May 6 to May 17.
But if you issue new shares simply to allow the plan to acquire them, you may dilute the value of the shares and trigger the pre-emptive rights
of other shareholders to participate in this new issue.
In summary, the proposal authorizes the Board of Directors, during the period until the next AGM, to issue new shares: (i) with pre-emptive rights
for the stockholders to subscribe for the new shares; or (ii) with exclusion of pre-emptive rights
for the company's stockholders to subscribe for the new shares in connection with an acquisition.
the shareholders having pre-emptive rights
to purchase newly-issued
The equity offering and the pre-emptive rights
offering in Colombia, which ended on January 27, 2012, will offer Bancolombia around USD892.
and Continental Europe to vote for waivers of pre-emptive rights
, in order to promote broader access to equity capital for real estate companies.
The resolution of all the various pre-emptive rights
is expected to take up to 90 days.
Brazilian airline GOL Linhas Aereas Inteligentes (NYSE: GOL and Bovespa: GOLL4) has filed a registration statement, effective immediately, with the US SEC for the registration of 2,470,794 preferred shares in a pre-emptive rights
Campbell Soup Company (NYSE:CPB) announced its wholly-owned subsidiary, Arnott's Limited, has completed the sale of its Papua New Guinea (PNG) operations to two PNG government pension funds, after the pension funds exercised their pre-emptive rights
to purchase the Arnott's PNG shares.
It is subject to the connected approvals from regulatory authorities and to the possible exercise of pre-emptive rights
by other shareholders.
01 per share (the "Class B Common Stock") and (ii) the previously announced concurrent pre-emptive rights
offer (the "Pre-Emptive Rights