14-06-2013, 10:01 AM
I always come across this clause when there is a convertible warrant issue , convertible preference unit and etc.
This is a waiver to the majority shareholder who will cross the 30% trigger point when they exercise their conversion.
The crux is after crossing the 30% trigger point, can they buy shares from the open market without having to give a general offer to the minority shareholders ?
Hope some buddies here can help to enlighten, many thanks.
This is a waiver to the majority shareholder who will cross the 30% trigger point when they exercise their conversion.
The crux is after crossing the 30% trigger point, can they buy shares from the open market without having to give a general offer to the minority shareholders ?
Hope some buddies here can help to enlighten, many thanks.