On Friday, Mr Folkes launched a pounds 4.6 million bid to buy even more voting and non-voting shares from the non-family shareholders - a move that if successful means he controls more than 75 per cent of the voting shares
* Warrants to purchase a further 22,727,272 variable voting shares
which, if exercised in full by SmartLynx, would have resulted in SmartLynx having acquired a total of 45,454,544 variable voting shares
of Jetlines in connection with the Private Placement, representing approximately 34.99% of Jetlines' total common shares and variable voting shares
issued and outstanding (assuming conversion of all Subscription Receipts).
The IRS contended that a premium should be applied to the class A voting shares
and that "because of the disparate ratio (or skewed distribution) between the number of shares of voting stock outstanding and the number of shares of nonvoting stock outstanding (1 to 1,848), the premium should be expressed as a percentage of(or in relation to) the equity value of [the company]." One IRS expert indicated that an appropriate premium for the class A voting shares
would be 10 percent of the total equity value of the company; a second expert suggested that an appropriate premium for such shares would be three to seven percent of the total equity value of the company.
The Combination Agreement contemplates that ABS will acquire all of the Paragon membership interests from the existing Paragon members in consideration for a number of Proportionate Voting Shares
equal to 82.5% of the equity securities of ABS following the closing of the Proposed Transaction and the Non-Brokered Financing (defined below).
of Simplot for applying the percentage of the company's value method would be equally persuasive if a larger number of voting shares
were outstanding while the decedent's ownership percentage remained unchanged or in the case of a general partnership interest.
For many years the articles laid down that the non-voting shares should be enfranchised if ever the Folkes family's ownership of the voting shares
fell below 40 per cent for 14 consecutive days.
Following this offering ACE beneficially owns 31m Class B voting shares
of Air Canada, representing 11.11% of the Class A variable voting shares
and the Class B voting shares
of Air Canada issued and outstanding on a combined basis.
Boyd Craig is a control person of Craig Wireless and has beneficial ownership of more than 10 percent of the issued and outstanding subordinate voting shares
and multiple voting shares
of the company.
The offer for the non-voting shares was priced at a 35.7 per cent premium to their closing price on October 4, the day he tabled the offer, while the voting shares
carry a 37.9 per cent premium.
[sections] 1842) to acquire control and up to 100 percent of the voting shares
of Glen Burnie Bancorp ("Glen Burnie"), and thereby acquire control of The Bank of Glen Burnie ("Bank"), both of Glen Burnie, Maryland.(1)
said that its board of directors has declared a quarterly dividend totalling USD45.75 per share on each of its outstanding Class B non-voting shares and Class A voting shares