CONVERSION OF SHARES
Holders of Regal Bancorp Common Stock may elect to receive shares of SR Bancorp Common Stock or cash, or a combination thereof (in all cases without interest) in exchange for their shares of Regal Bancorp Common Stock in accordance with the following procedures, provided that, in the aggregate, and subject to the provisions of Section 3.2.6, 80% of the total number of shares of Regal Bancorp Common Stock issued and outstanding at the Effective Time shall be converted into the Stock Consideration (the “Stock Conversion Number”) and the remaining outstanding shares of Regal Bancorp Common Stock shall be converted into the Cash Consideration; provided; however, if the number of shares to be issued by SR Bancorp in the Conversion exceeds the amount representing the midpoint of the offering range in the Conversion Offering based on the Independent Valuation, then the Stock Conversion Number shall be increased to 90%. Shares of Regal Bancorp Common Stock as to which a Cash Election (including, pursuant to a Mixed Election) has been made are referred to herein as “Cash Election Shares.” Shares of Regal Bancorp Common Stock as to which a Stock Election has been made (including, pursuant to a Mixed Election) are referred to herein as “Stock Election Shares.” Shares of Regal Bancorp Common Stock as to which no election has been made (or as to which an Election Form is not returned properly completed) are referred to herein as “Non-Election Shares.” The aggregate number of shares of Regal Bancorp Common Stock with respect to which a Stock Election has been made is referred to herein as the “Stock Election Number.”
【参考訳】Regal Bancorp 普通株式の保有者は、以下の手順に従って、Regal Bancorp 普通株式と引き換えに、SR Bancorp 普通株式、現金、またはそれらの組み合わせ（すべての場合において無利子）を受け取ることを選択できる。 ただし、本転換において SR バンコープが発行する株式数が、独立評価機関による評価に基づ く本転換の募集における募集範囲の中点を示す金額を超える場合は、株式転換数は 90%に増 加されるものとする。現金選択（混合選択を含む）が行われたリーガル・バンコープ普通株式は、本書において「現金選択 株式」と呼ばれます。Regal Bancorp 普通株式のうち、株式選択（混合選択を含む）が行われた株式は「株式選択株式」と呼 ばれます。選択が行われなかった（または選択用紙が適切に記入されて返送されなかった）Regal Bancorp 普通株 式は、ここでは "非選択株式" と呼ばれます。株式選択が行われた Regal Bancorp 普通株式の総数を本書では "株式選択数" と呼びます。
