Non-fulfilment of Conditions Precedent. If the resolutions of the shareholders of the Company necessary to give effect to the transaction recorded herein are not passed by such shareholders in general meeting, or any of the other conditions precedent in clause 3.1 is not fulfilled, by 15 June 2005, the Company undertakes to offer to enter into a new Subscription Agreement with BSCM Clients, on the same or similar terms as this Agreement, save that the Subscription Price will be equivalent to a 10% (ten percent) discount to the volume weighted average traded price of the Shares over the 30 (thirty) trading days prior to signing of the new subscription agreement, which signing will take place within 7 (seven) days of such general meeting or such non-fulfilment and a circular requesting the Company’s shareholder approval to such subscription will be dispatched within 14 (fourteen) days thereafter or as soon as possible after any regulatory approvals required to be obtained are obtained.
Appears in 2 contracts
Sources: Subscription Agreement, Subscription Agreement (Drdgold LTD)