The Offer is an opportunity for Shareholders and Clients to invest in the Company while giving existing Shareholders the first right to trade their Securities under the Pre-Emption Offer. This relationship persists even after allowing for a range of controls that influence both variables, with the relationship stronger in poorer economies where the location of manufacturing is more driven by costs. KMP participation Subject to Board approval and the terms of the Constitution, all Shareholders, including members of the Key Management Personnel, may trade their Securities under the Pre-Emption Offer and the Offer. ![]() The number of Offer Shares available under the Offer will become known after the Pre-Emption Offer. However, depending on: ■ how many Offer Shares are available after the Pre-Emption Offer ■ the level of interest by Eligible Investors during the Offer Period, and ■ the Board’s discretion on the application of the Share Ownership and Trading Policy, the Board may scale back or reject offers in its absolute discretion. While the Board will endeavour to satisfy Expressions made by Eligible Investors under the Offer (subject to the Pre-Emption Offer), the level of ownership ultimately approved by the Board will depend on: ■ how many Offer Shares are available under the Offer after the Pre-Emption Offer ■ the level of interest by Eligible Investors in Offer Shares, and ■ the Board’s discretion on the application of the Share Ownership and Trading Policy. Examples of Pre-Emption Offer in a sentenceĮach Member with a registered address in a jurisdiction where a Pre-Emption Offer is not required to be made acknowledges that the Company may arrange for a nominee to dispose of any of that Member’s entitlement to participate in any issue of shares or options by the Company that is capable of transfer.
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