What are the consequences of submitting an Invalid Notice for CVR holders?

Question

Accepted Answer

Consequences of Submitting an Invalid Notice for CVR Holders

CVR holders face the forfeiture of their underlying ordinary shares if they fail to become a Qualifying CVR Holder within one year of the CVR Payment Notice delivery. This occurs if an initial notice is deemed invalid and subsequent efforts do not result in a Valid Notice that Gorilla can verify with commercially reasonable certainty.
Forfeiture of Ordinary Shares

Failure to meet the criteria for a Qualifying CVR Holder within the stipulated one-year period will result in the forfeiture of the ordinary shares that would have been distributed. This deadline is critical for all CVR holders seeking to receive their entitled shares.
Requirement for a Valid Notice

To avoid forfeiture, a CVR holder must deliver a Valid Notice, which includes specific details such as legal name, mailing address, country of residence, citizenship, tax identification number, and the number of CVRs held. The notice must contain sufficient information for Gorilla to verify its accuracy to a commercially reasonable degree.
Process for Invalid Notices

If Gorilla determines a submitted notice is invalid, it will inform the sender via email. The sender then has the opportunity to provide additional information or rectify deficiencies to enable Gorilla to verify the details, thereby potentially converting an Invalid Notice into a Valid Notice.

Reading history

Hide →

This history is cleared when the page is closed.

What are the consequences of submitting an Invalid Notice for CVR holders?

Loading

Was this article helpful?

Helpful

Not helpful

Report an issue

2

0

0

Share with friends