Provider of air transportation services SAS AB (STO:SAS) announced on Friday that it intends to call for an Extraordinary General Meeting, to be held on 3 November 2017, with a proposal to authorise the board of directors to be able to resolve on issuing not more than 66 million common shares with disapplication
of the shareholders' preferential rights, corresponding to nearly 20 % of the total number of common shares in issue.
Moreover, the principle of the supremacy of EU law continues to apply on or after exit day so far as relevant to the interpretation, disapplication
or quashing of any enactment or rule of law passed or made before exit day.
There is something perverse about mandatory laws that foster their own disapplication
behind closed doors.
The Board, after careful consideration with the Manager and in consultation with its Joint Financial Advisers, has determined to utilise part of its annual pre-emption disapplication
authority to satisfy 100 million of the excess demand on equivalent terms to the Placing.
Whilst not all industry recommendations have made their way into the Regulations -- for example, the disapplication
of the prohibition on issuing bonds in excess of issued share capital (in the context of Sukuk issuances), or related party approval exemptions (as the SPV will likely be a subsidiary of the Obligor), the Regulations do provide a number of key concessions not previously available under Oman law.
The EBA said, 'It is the EBA's opinion that the disapplication
of these requirements should be possible for small and non-complex institutions and for staff that receives only a small amount of variable remuneration.
But the judges said their order on disapplication
should be suspended until after March 31 2016 "to give Parliament the opportunity to put matters right".
The right to subscribe for the new shares were, with disapplication
of the shareholders' pre-emptive rights and in accordance with the agreements entered into regarding the private placement announced on 13 January 2015, granted RA Capital Healthcare Fund LP, Blackwell Partners LLC (RA Capital), Growth Equities Opportunity Fund III LLC (NEA), HealthCap VI L.
To enable the directors' authority for the disapplication
of pre-memption rights 44.
Under the Act, the appropriate authority - in this case the Commissioner - must ensure that a recorded complaint is concluded by reaching one of five outcomes: local resolution, disapplication
, discontinuance, withdrawal or local investigation.
This year the government has done what they call disapplication
, where it has ceased to assess schools on how well they teach the current ICT.
The ECJ confirmed its previous interpretation, recalling how the Simmenthal doctrine and the principle of autonomy of EU law required the disapplication
of national law contrasting with European legislation.