Receiving Agent Agreement Summary (Rights Issues)
Rights issues are a type of corporate action where existing shareholders are given the opportunity to purchase additional shares in a company, usually at a discounted price. In such transactions, the role of the receiving agent is crucial in facilitating the process by receiving and processing the subscription instructions and payments from the shareholders.
This legal template aims to provide a concise summary of the agreement between the company issuing the rights and the receiving agent who will handle the administrative aspects of managing the rights issue. It outlines the key obligations and rights of both parties, including the responsibilities of the receiving agent in receiving and processing communications, recording shareholders' subscriptions, handling payments, issuing confirmations, and maintaining accurate records.
The template may further cover matters related to the fees and expenses payable to the receiving agent, termination of the agreement, indemnification, confidentiality requirements, and any governing law and jurisdiction provisions.
By utilizing this legal template, both the company and the receiving agent can establish a clear understanding of their respective roles, obligations, and rights in relation to the rights issue process, ensuring a smooth and efficient execution of the transaction while complying with relevant UK laws and regulations.
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