5.8
Declaration as to Non-Canadian Holders
Am I reading this correctly and are shareholders outside Canada/US excluded from participating in the rights plan. Being a Dutch shareholder and very positive about NOT's current and future potential and willing to invest more in the company, I am (to say the least) unhappy about this. Can anyone comment?
If in the opinion of the Board of Directors (who may rely upon the advice of counsel) any action or event contemplated by this Agreement would require compliance by the Corporation with the securities laws or comparable legislation of a jurisdiction outside Canada, the Board of Directors acting in good faith shall take such actions as it may deem appropriate to ensure such compliance. In no event shall the Corporation or the Rights Agent be required to issue or deliver Rights or securities issuable on exercise of Rights to Persons who are citizens, residents or nationals of any jurisdiction other than Canada or the United States, in which such issue or delivery would be unlawful without registration of the relevant Persons or securities for such purposes.
