Example sentences of "[prep] a rights " in BNC.
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| 31 | Ernst & Young has offered to pay compensation to Sound Diffusion investors who took up shares in a rights issue seven months before the electrical equipment company collapsed . |
| 32 | In 1987 the bank raised £700m in a rights issue , only to use it to make provisions of £1.02bn against sovereign debt , a move that pushed the Midland into its first ever loss . |
| 33 | The company explains its performance by saying that 1989 was the first year that the US contributed the majority of its sales , 61% of the total , and that it was hit that year by a 35% fall in the UK because it was too reliant on one customer ; it raised £1.5m in a rights issue . |
| 34 | In a rights issue , of course , there is no loss to the company , investors or underwriters , unless the rights price becomes negative ( for example , because of a substantial general decline in share prices ) . |
| 35 | In a rights issue the purchaser offers to its existing shareholders the right to subscribe in cash for such number of shares in proportion to their existing holdings as will raise a sum ( after deduction of the rights issue costs ) equal to the consideration needed for the acquisition . |
| 36 | ( 2 ) The principal advantage of a cash underwritten alternative over a rights issue is that the new shares in the bidder are allotted to the target 's shareholders , in which case merger relief and , possibly , merger accounting may be available ( see para 23.1 below ) . |
| 37 | It is proposed to extend the circumstances in which the price and number of shares under the British Gas Sharesave Scheme may be adjusted to include an ‘ open offer ’ ( an offer to shareholders similar to a rights issue ) or any other variation of share capital which the Inland Revenue accepts as sufficient ground for such an adjustment and at the same time to allow for adjustments to reflect changes in the class of shares , or the rights attaching to shares , under option . |
| 38 | Institutional investors who include Schroders , Prudential and Phillips & Drew Fund Management are believed to be opposed to a rights issue . |
| 39 | B. ‘ That , subject to the passing of Resolution A , before this meeting , the Directors be and they are hereby empowered pursuant to Section 24 of the Companies ( Amendment ) Act 1983 to allot equity securities ( as defined by section 23 of the Companies ( Amendment ) Act 1983 ) for cash pursuant to the authority conferred by such resolution as if sub-section ( 1 ) of the said Section 23 did not apply to any such allotment provided that this power shall be limited to the allotment of equity securities in connection with a rights issue in favour of shareholders and to the allotment ( otherwise than pursuant to a rights issue as aforesaid ) of equity securities up to an aggregate nominal value of IR£1,772,100 . |
| 40 | Like last year , it also seeks a disapplication of the pre-VXKVK rights on a rights issue so as to allow the Directors , when making a rights issue , to exclude or make such other arrangements as may be appropriate to resolve legal or practical problems which might for example arise with overseas shareholders . |
| 41 | The legislation embodies numerous illogicalities and anomalies , including the double capital tax charge on gifts made within seven years before death , the taxation of some settlements as if no interest in possession exist when , in fact , they do , and the effect of the ‘ pooling ’ rules for shares etc , which can result in a chargeable gain which greatly exceeds the actual gain on a disposal of a recently acquired holding , eg on a rights issue . |
| 42 | As Bruce Kent 's contribution ( in Chapter 8 of this volume ) suggests , however , this does not mean that we have to reject all approaches based on a rights theory , or even on natural law . |
| 43 | Since the issue price can be fixed so that it is virtually impossible for the rights price to become negative , companies which pay underwriting commission on a rights issue are making an expensive ex gratia payment . |
| 44 | In effect , when section 89 applies , the company if it wishes to issue equity shares for cash , has to do so by a rights issue , as described in chapter 13 or a similar process if it is a private company . |
| 45 | ( 13 ) If the cash for the bid is to be raised by a rights issue of the bidder ( cash placings to selected shareholders or third parties are strongly resisted by the IPCs without shareholders being offered pre-emption entitlements , particularly if the issue is at a significant discount ) , then it may be necessary to increase its authorised share capital and directors ' authority to implement the rights issue and , if the issue will not comply with the strict statutory requirements of CA 1985 , s89 , to pass a special resolution to disapply that section . |