IOSP » Topics » 7.3 Reconstruction or amalgamation of Company

This excerpt taken from the IOSP DEF 14A filed Mar 31, 2008.

7.3  Reconstruction or amalgamation of Company


Notwithstanding Rule 5.1, if, under section 425 of the Companies Act 1985 (or legislation which HM Revenue & Customs has agreed is equivalent to the same), the Court sanctions a compromise or arrangement proposed for the purposes of, or in connection with, a scheme for the reconstruction of the Company or its amalgamation with any other company or companies, all Options may be exercised within six months of the court sanctioning the compromise or arrangement. Any Option not so exercised shall cease to be exercisable and shall lapse at the end of such six month period.


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