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Name - Arawak Energy Corp
Website -
Symbol - ABG.RT
Cusip Number - 038743 11 8 
Expiry Date - Aug. 18, 2003
News Releases

Arawak Energy rights offering

2003-07-16 16:39 ET - Rights Offering

The company has announced it will offer to shareholders of record on July 24, 2003, rights to purchase shares of the company. One right will be issued for each share held. As at July 11, 2003, the company had 71,966,558 shares issued and outstanding.

Offering: Four rights exercisable for one share at 50 cents per share
Record date: July 24, 2003
Trade ex-rights: July 22, 2003
Called for trading: July 22, 2003
Trade for cash: Aug. 13, 2003
Cease trading: Aug. 18, 2003, 9 a.m. PDT
Rights expire: Aug. 18, 2003
Symbol: ABG.RT
CUSIP No.: 038743 11 8

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Explanation

Rights

Rights give existing shareholders a chance to proportionately buy shares in the new issue the company is putting out to raise more funds. The certificate showing this privilege is called a right.  It  gives the stockholders the first opportunity,  to buy the new securities.

Rights issue

An offer made by a  company to its shareholders to enable them to buy new shares in the company at a discount to the market price.

 

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