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PRVT » Topics » Section 13.6 Conversion of Exchangeable Shares

This excerpt taken from the PRVT 8-K filed Nov 3, 2009.

Section 13.6 Conversion of Exchangeable Shares

Immediately upon the issuance and delivery to a holder of Exchangeable Shares at any time and from time to time of PMG Common Stock and the other Exchangeable Share Consideration (if any) pursuant to any Call Right, or any Insolvency Exchange Right or Automatic Exchange Right (as such terms are defined in the Exchange and Support Agreement), the Exchangeable Shares which are the subject of any such right shall be automatically converted into Common Shares of Corporation on a one-for-one basis and the holder thereof shall be entitled to a certificate or certificates upon demand representing the Common Shares resulting from such conversion. All Common Shares issued by Corporation in respect of any conversion of issued and fully paid Exchangeable Shares shall be deemed to be fully paid and non-assessable.

 

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