It should be noted, however, that the tri-partite voting arrangement as described in paragraph 60 has the effect of the Cornerstone Shareholders being regarded as controlling shareholders from the Listing Date until the first annual general meeting of Revego has concluded. ![]() If Resolution 7 is passed, the issue of the Shares to the Cornerstone Shareholders will occur no later than 1 month after the date of the Meeting, or such longer period as ASX may approve in the event that the conditions precedent to completion of the Cornerstone Placement (summarised in section 8.2 of this Explanatory Memorandum) are not able to be satisfied within this time.įor the purposes of Chapter 2E, each of the Cornerstone Shareholders is a Related Party of the Company by virtue of section 288(1) of the Corporations Act and the issue of Shares to the Cornerstone Shareholders constitutes the giving of a financial benefit. In relation to the Cornerstone Placement, on 17 August 2009, the Company entered into subscription agreements with each of the Cornerstone Shareholders, pursuant to which the Company agreed to allot and issue a total of up to 99,800,000 Shares to the Cornerstone Shareholders at a price of $0.29 per Share (Cornerstone Agreements). Ms Brown noted that the University would be able to seek to maintain a 5% real payout (payout plus inflation protection) only with the adoption of a much riskier investment policy.Ī further near-term executable pipeline has been identified which is expected to be value enhancing and yield accretive to the Initial Portfolio, which will be funded through further new equity issuances by Revego.Revego is seeking to raise R1,519m from prospective Shareholders on Listing, with the Cornerstone Shareholders (see further details under 2.8 below) having committed to subscribe for Offer Shares up to the value of R1,725m. ![]() However, those could not be identified from the list that the Secretariat had provided.īenefits to Plexure of the Task Shareholders as Cornerstone Shareholders The Task Allotment will position the Task Shareholders as an important cornerstone investor in Plexure, signalling their confidence in the future prospects of the combined Plexure / Task entity. Examples of Cornerstone Shareholders in a sentence
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