Equalization Agreement Dual Listing

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The concept of affiliate has been defined as “an enterprise linked to another enterprise by equity participations or other means of control, for example. B a subsidiary, a parent company or a sibling`. [6] CPD does not involve a daughter, mother or sibling relationship; they unite, inter alia, through the compensation agreement. In the strict sense of the term, the component companies are not linked together by shareholdings. But more broadly, they are. The purchase of a share of Carnival Corp shares gives holders the right to receive the equivalent of all dividends paid by Carnival PLC and to vote on matters concerning Carnival Corp. and Carnival PLC, such as.B. the selection of directors, Following: “Carnival Corporation and Carnival PLC are authorized to transfer assets between companies, make loans or investments in each other and conduct other intra-company transactions.” which supports the assertion that there is common ownership. in the alternative, the component companies are linked to each other by control; Companies have concordant directors and senior officers, as well as provisions in their corporate documents that require their directors to perform their duties with respect to the DLC and its shareholders as a whole. [7] In 2003, Carnival merged with Princess Cruises to become the world`s largest cruise line, now known as Carnival Corp. & PLC. Prior to the merger, Carnival was listed on the New York Stock Exchange and Princess was listed on the London Stock Exchange. In order to allow the shareholders of the merging companies to avoid a divestiture, the merger was carried out through a double listing agreement.

The contracts cover issues that determine the distribution of these legal and economic rights among twin companies, including issues relating to dividends, liquidation and corporate governance. As a general rule, the two companies share a single board of directors and have an integrated management structure. . . .

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