Warrant conversion terms require upfront price determination and minimum upfront payment, with forfeiture for non exercise. Regulation 4(3) is amended to increase a numeric threshold from 'twelve' to 'eighteen', to require that the price or conversion formula of warrants be determined upfront with at least twenty-five percent of the consideration received upfront, and to provide that consideration for any warrant not exercised shall be forfeited; regulation 54(7) is amended to add that the part payment on application shall not be less than twenty-five percent of the issue price.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Warrant conversion terms require upfront price determination and minimum upfront payment, with forfeiture for non exercise.
Regulation 4(3) is amended to increase a numeric threshold from "twelve" to "eighteen", to require that the price or conversion formula of warrants be determined upfront with at least twenty-five percent of the consideration received upfront, and to provide that consideration for any warrant not exercised shall be forfeited; regulation 54(7) is amended to add that the part payment on application shall not be less than twenty-five percent of the issue price.
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