Article 197 - Sale of Entitlements to Rights Issue - Shareholders have preemption rights
to subscribe for their company's capital increase (Rights Issue).
by assuming this ground, they array themselves in hostility to the moral sense of the civilized world." The way to combat the "curse," he proclaimed, was a homestead act for surveyed government land and preemption rights
for unsurveyed land.
Those who had already secured preemption rights
then sought to preserve their claims legally.
Alternatively, the company in question may circumvent the preemption rights
of the existing shareholders by issuing CBs to the strategic investor, offering him the right, or the option, to convert such CBs into equity in the issuing company.
The stake buy in Kashagan field is subject to approval of governments of India and Kazakhstan and also the other partner in the Caspian Sea field waiving their preemption rights
. Italy's Eni, Royal Dutch Shell, France's Total, ExxonMobil and Kaz- MunayGas have 16.81- per cent stake each, while Inpex of Japan has the remaining 7.56 per cent.
An Eni spokesman explained that Eni revoked the agreement signed on 18 December to buy Heritage's 50% stake in Ugandan Blocks1 ad 3A, on which UK oil and gas company Tullow (LON:TLW) has exercised preemption rights
to authorise die Board of Directors to issue new shares and/or convertible debentures corresponding to in total not more dian 34,000,000 new shares, with or without the application of die shareholders preemption rights
, in order to enable die Company to make business acquisitions or other major investments; and to authorize die Board of Directors to decide 011 repurchases and sales by the Company of its shares on NASDAQ Stockholm, where die number of shares so repurchased shall be limited so tliat shares held in treasury from time to time do not exceed five per cent of all outstanding shares of the Company.
Eni terminated on Friday the agreement signed on 18 December to buy Heritage's 50% stake in Ugandan Blocks 1 ad 3A, on which UK oil and gas company Tullow (LON:TLW) had exercised preemption rights
It is subject to the final execution of the sale and purchase agreements, to the relevant regulatory approvals and to partners' preemption rights
only on the Iara transaction.
Previously, Petrobras accorded agreed to deal with its 35% stake in the block to China s Sinochem Group for $1.54 billion, but the deal was subject to preemption rights
of ONGC and Shell.