Each Subscription Receipt entitled SmartLynx to receive, without payment of additional consideration or further action on the part of SmartLynx, one unit of Jetlines (each unit consisting of one variable
voting share of Jetlines and one common share purchase warrant) upon receipt by the Escrow Agent, prior to August 31, 2019 of a release notice from Jetlines and SmartLynx confirming that: (a) Jetlines has raised additional gross proceeds of $40 million from a subsequent financing by May 31, 2019 (such completion date subject to waiver by SmartLynx); (b) the receipt by Jetlines' subsidiary, Canada Jetlines Operations Ltd., of its air operator certificate from Transport Canada; and (c) no termination event has occurred (the "Escrow Release Conditions").
The acquisition by Fairfax of the Subordinate
Voting Shares brings Fairfax's total holdings of such securities to 6,600,000 Subordinate
Voting Shares (or approximately 20.1% of all outstanding Subordinate
Voting Shares).
The
Voting Shares were acquired, pursuant to the terms of a stock purchase agreement with the company, its wholly-owned subsidiary, Dia Bras Peru SAC, and a group of Corona shareholders.
Corroborating the hypothesis that the relative value of
voting shares against non-voting shares can be seen as a proxy for the level of private benefits extracted by controlling shareholders, several previous researches have found lower VP for firms located in countries with stronger investor protection.
A new formula is proposed for calculating
voting shares, which is supposed to be simpler and more transparent than the existing one.
[section] 1841 et seq.), to acquire all the
voting shares of United National Bancorp ("United National"), and thereby indirectly acquire UnitedTrust Bank, both in Bridgewater, New Jersey.
Ninety-eight percent of the
voting shares voted to approve the merger of CIP(r) and CPA(r): 15.
The offer, which was recommended by the board of Folkes Group, has secured more than 75 per cent of
voting shares and 50 per cent of non-voting shares.
In finding that the
voting shares had the potential for more influence and control than the nonvoting shares, the Tax Court valued the voting stock at $215,539 per share, and $3,417 per share for the nonvoting.
Hussman owed her more than 110
voting shares in the company, Arnold claimed, adding that she was prepared to swap an equal number of her non-voting shares.
Simplot owned 18 of the 76.445 outstanding class A
voting shares (approximately 23.55 percent) and 3,942.048 of the 141,288.584 outstanding class B nonvoting shares (approximately 2.79 percent) in the company.
Northwest wants to limit the
voting shares to 19 percent; KLM owns 18.8 percent of Northwest's
voting shares.
