Brothers Mario and Guilherme Frering, the current controllers of CAEMI with 60% of the voting shares, have closed the BHP deal pending approval by antitrust authorities and Mitsui's exercise of its preemptive right
, CAEMI said in an statement released in Sao Paulo.
2) unanimously concluded that a preemptive right
in the form of a right of first refusal in a commercial or governmental transaction is exempt from the Rule against Perpetuities (Rule) as embodied in New York Estates Powers and Trusts Law (EPTL) section 9-1.
The cut-off date for implementing the preemptive right
to purchase shares was on May 17.
SAO PAULO, July 11, 2012 /PRNewswire/ -- (BM&FBovespa: BHGR3; OTC: BZHGY) On May 23, 2012, the 4th Civil Chamber of the Rio de Janeiro State Court granted the interlocutory appeal filed by the BHG Group in order to, by modifying a Lower Court's decision, reject the preemptive right
alleged by Nova Riotel for the acquisition of the Rio Palace hotel.
Under the Company's Articles of Organization, current holders of the Common Stock would have the preemptive right
to acquire shares of Common Stock upon the exercise of the Warrants.
The offer is expected to be around AUD500m, which is the offer made to News Corp by Singapore Airlines before its bid was prevented by Air New Zealand threatening to exercise its preemptive right
Shareholders have 30 (thirty) days, starting from February 9, 2011, to exercise a preemptive right
to purchase shares on the conditions set forth in the aforementioned notice.
The proposal follows a failed bid in 1999 by Singapore Airlines to acquire the 50% stake after Air New Zealand threatened to use its preemptive right
to stop the sale.
Chesapeake has a preemptive right
to purchase Gastar common shares in an amount that would maintain Chesapeake's percentage of Gastar's fully-diluted shares outstanding immediately following Gastar's issuance of new common shares.
According to analysts, the issue of ownership has stalled the fleet restructuring because Ansett had apparently hoped to secure capital from Singapore Airlines Ltd (SIA), but this was thwarted when Air New Zealand exercised its preemptive right
to prevent SIA from purchasing News Corp Ltd`s 50% stake in Ansett during June 1999.
The purchased shares included approximately 200,000 shares that were purchased by a holder of our Series D Convertible Preferred Stock in connection with the exercise of its preemptive rights
6 million by granting preemptive rights
to shareholders against cash and noncash contributions.
We have also agreed to grant preemptive rights
with respect to further offerings of our common stock for a period of 24 months.
Alcoa exerted its preemptive rights
in accordance with the shareholding agreement between the consortium for the construction of the Estreito hydroelectric power plant as did Suez Energy South America, who bought the remaining 10.
RAO EES still more attractive for shareholders with preemptive rights