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THE INVESTOR'S GUIDE TO WARRANTS:

Capitalize on the Fastest Growing Sector of the Stock Market, Second Edition (Hardcover)
 by Andrew McHattie   Rating: ISBN-10: 027303751X

 

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Name - Destiny Resources Ltd
Website -
Symbol - DNY.RT
Cusip Number - 25063P 12 1 
Expiry Date - March 17, 1988
News Releases

1987-12-09 03:00 ET - Rights Offering

The company will offer to shareholders of record on December 18, 1987 rights to purchase shares of the company.

Effective at the opening December 14, 1987, the shares of the company will trade ex-rights and the rights will be posted and called for trading at that time on a when issued basis.

Basis of offering: 2 rights exercisable for 1 share at $5.00 pershare
Record date: December 18, 1987
Shares trade x-rt: December 14, 1987
Rt trade for cash: March 10, 1988
Rt expire: March 17, 1988
Rt trading symbol: DNY.RT
Rt security No: 834238
Rt Cusip No: 25063P 12 1

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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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