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[[12.1(d) - Equity Derivatives Provision|If]] you’re like the [[JC]] you will be wondering how a single holder could acquire ''more'' than 100 per cent of the extant {{eqderivprov|Shares}} of an {{eqderivprov|Issuer}}. But, to an [[ISDA ninja]], that | [[12.1(d) - Equity Derivatives Provision|If]] you’re like the [[JC]] you will be wondering how a single holder could acquire ''more'' than 100 per cent of the extant {{eqderivprov|Shares}} of an {{eqderivprov|Issuer}}. But, to an [[ISDA ninja]], that is to rather miss the point. We are not talking about the ''practical'', but the ''conceptually possible''. Perhaps in a [[parallel universe]], where normal rules of Euclidean geometry don’t apply. Or down a gravity well or something. | ||
Sleep assured that, however conceptually difficult — ''logically'' difficult — such a feat might be, if someone ''does'' manage it then {{icds}} has your — or her — back. | Sleep assured that, however conceptually difficult — ''logically'' difficult — such a feat might be, if someone ''does'' manage it then {{icds}} has your — or her — back. | ||
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Also, is not clear what is meant to happen if the Tender Offer relates to ''exactly'' 100 per cent of the outstanding {{eqderivprov|Shares}}. | Also, is not clear what is meant to happen if the Tender Offer relates to ''exactly'' 100 per cent of the outstanding {{eqderivprov|Shares}}. | ||
===Mandatory GDR Conversion=== | |||
Could you slip in a mandatory [[ADR]] or [[GDR]] conversion into this provision? you know, if a warring Eastern European govenment announced that local issuers of GDRs must forcibly exchange them for local {{eqderivprov|Shares}}? We will have to hope so, because it is hard to see what other category of {{eqderivprov|Adjustment Event}} or {{eqderivprov|Extraordinary Event}} this would fit into. |