General Mandate to issue the Subscription Shares Clause Samples
The 'General Mandate to issue the Subscription Shares' clause authorizes a company's board of directors to allot and issue new shares to subscribers without requiring further approval from shareholders. In practice, this mandate typically sets a maximum number of shares that can be issued and may specify a time frame during which the board can exercise this authority. This clause streamlines the process of raising capital by enabling the company to respond quickly to investment opportunities, thereby avoiding delays associated with convening shareholder meetings for each new share issuance.
General Mandate to issue the Subscription Shares. The Subscription Share will be allotted and issued pursuant to the General Mandate and the Subscription is not subject to Shareholders’ approval. The Directors were authorised to allot, issue or otherwise deal with up to 72,324,465 new Shares under the General Mandate. As at the date of this announcement, apart from the Subscription Shares, no new Shares have been issued or agreed to be issued under the General Mandate. After completion of the Subscription, 2,324,465 Shares may be allotted and issued pursuant to the General Mandate. An application will be made to the Stock Exchange for the granting of the approval for the listing of, and permission to deal in, the Subscription Shares.
General Mandate to issue the Subscription Shares. The Subscription Shares will be allotted and issued pursuant to the General Mandate and is not subject to Shareholders’ approval. The Company is authorised to allot, issue or otherwise deal with up to 3,382,999,139 new Shares under the general mandate. As at the date of this announcement, no new Shares have been issued under such general mandate. The Subscription Shares, when fully paid, will rank pari passu in all respects with the existing Shares in issue as at the date of issue of the Subscription Shares. Application will be made to the Stock Exchange to grant the listing of, and permission to deal in, the Subscription Shares. The Subscription is subject to and conditional upon the following:
General Mandate to issue the Subscription Shares. The issue of the Subscription Shares will not be subject to the approval by the Shareholders and the Subscription Shares will be issued under the General Mandate granted to the Directors at the AGM. The total number of issued Shares as at the date of the AGM was 4,671,298,000 Shares. Pursuant to the General Mandate, the total number of new Shares that the Company is authorized to issue is 934,259,600 Shares, representing 20% of the issued share capital of the Company as at the date of AGM. Since the date of the AGM and up to the date of this announcement, no new Shares have been allotted and issued by the Company under the General Mandate.
General Mandate to issue the Subscription Shares. The issue of the Subscription Shares is not subject to ED Shareholders’ approval as the Subscription Shares will be allotted and issued under the General Mandate granted to the directors of Enterprise Development by a resolution of the ED Shareholders passed at the AGM subject to the limit of up to 20% of the aggregate number of ED Shares in issue as at the date of the AGM (i.e. 126,362,155 ED Shares, representing approximately 20% of 631,810,778 ED Shares in issue as at the date of the AGM). Up to the date of the Announcement, the General Mandate has not been utilized. The issue of the Subscription Shares will utilize the General Mandate in full. Enterprise Development has not bought back any ED Shares within the last 30 days prior to the date of the Announcement. The Completion shall be subject to the following conditions being satisfied:
General Mandate to issue the Subscription Shares. The Subscription Shares will be allotted and issued under the general mandate granted to the Directors by a resolution of the Shareholders passed at the annual general meeting of the Company held on 26 June 2012, which allowed allotment and issue of up to 2,487,470,303 Shares. Such general mandate had not been utilised prior to the execution of the Subscription Agreements. The issue of the Subscription Shares is not subject to approval of the Shareholders.
General Mandate to issue the Subscription Shares. The Subscription Share will be allotted and issued pursuant to the General Mandate granted to the Directors at the AGM. Pursuant to the General Mandate, the Company was authorised to allot, issue or otherwise deal with up to 468,425,111 new Shares. As at the date of this announcement, apart from the Subscription Shares, no new Shares have been issued or agreed to be issued under the General Mandate. Accordingly, the issue of the Subscription Shares is not subject to any Shareholders’ approval. After completion of the Subscription, a remainder of 8,425,111 Shares (representing 0.36% of the total number of issued share capital of the Company as at the date of this announcement) may be allotted and issued pursuant to the General Mandate.
General Mandate to issue the Subscription Shares. The Subscription Shares will be allotted and issued pursuant to the General Mandate. The maximum number of Shares that can be issued under the General Mandate is 43,803,588 Shares. As at the date of this announcement, the Company has not allotted and issued any Shares pursuant to the General Mandate and the General Mandate is sufficient for the allotment and issue of all the Subscription Shares. As such, the issue of the Subscription Shares is not subject to further Shareholders’ approval. The General Mandate will be utilised as to approximately 9.59% upon the allotment and issue of all the Subscription Shares. Completion of the Subscription is conditional upon the listing of and permission to deal in the Subscription Shares on the Main Board being granted by the Stock Exchange (whether such grant is conditional or not). If the condition as set out in the above is not fulfilled on or before 30 May 2023, the obligations and liabilities of Subscriber and the Company under the Subscription and Settlement Agreement shall cease and terminate, and the Subscriber and the Company shall be released from all rights and obligations save for any antecedent breach thereof.
General Mandate to issue the Subscription Shares. The Subscription Shares will be allotted and issued under the General Mandate granted to the Directors by a resolution of the Shareholders passed at the AGM subject to the limit of up to 20% of the issued share capital of the Company as at the date of the AGM. Under the General Mandate, the Directors are authorised to issue and allot up to 20,375,520 Shares. Up to the date of this announcement, no Shares have been allotted and issued under the General Mandate. As such, the issue of the Subscription Shares will not be subject to Shareholders’ approval. Application will be made by the Company to the GEM Listing Committee of the Stock Exchange for the listing of, and permission to deal in, the Subscription Shares.
General Mandate to issue the Subscription Shares. The issue of the Subscription Shares will not be subject to the approval by the Shareholders and the Subscription Shares will be issued under the General Mandate granted to the Directors by a resolution of the Shareholders passed at the EGM. Pursuant to the General Mandate, the total number of new Shares that the Company is authorised to issue is 111,649,020 Shares, representing 20% of the then issued share capital of the Company as at the date of the EGM. Since the date of the EGM and up to the date of this announcement, no new Shares have been allotted and issued by the Company under the General Mandate.