On September 12, 2024, a press release was issued from Panama City, Panama regarding the annual meeting of shareholders of a company referred to as the “Issuer”. During the meeting held on August 14, 2024, shareholders approved the issuance of stock appreciation rights (SARs) to Clifford Starke, referred to as the “Acquiror”. The SARs were issued on December 15, 2023, and August 14, 2024, totaling 1,028,665 and 575,319 SARs respectively. These SARs vest in 12 equal installments, subject to specific share price criteria, with a ten-year term and post-termination exercise price of one year.
Prior to the completion of the offering, the Acquiror already owned 1,340,056 common shares of the Issuer, representing approximately 10.03% of the outstanding common shares. Following the completion of the Acquisition, the Acquiror’s ownership increased to 2,944,091 Common Shares, representing about 16.44% of the outstanding Common Shares on a fully-diluted basis.
In compliance with securities laws, the Acquiror maintains the right to acquire additional common shares or other securities of the Issuer and may choose to dispose of some or all of its current holdings based on market conditions and other relevant factors. The Acquiror’s head office address is PH Park Loft – Suite 2006, Via Porras 75, Panama City, Panama.
The Acquiror’s acquisition of the shares was made for investment purposes, with no immediate plans to acquire more securities. However, depending on various factors such as the Issuer’s business prospects, market conditions, and economic factors, the Acquiror may decide to acquire more securities or sell its existing holdings.
For more information on this press release, please refer to the original source at the provided link.
