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Website -
Symbol - MAU.RT
Cusip Number - 576905 11 9
Expiry Date - December 31 1997
News Releases
1997-11-25 07:12 ET - Rights Offering
The company is issuing to the holders of its common shares of record at the close of business on December 1 1997 and residents of Quebec or Ontario, 5,682,000 transferable rights to subscribe for units at $0.95 per unit, units being comprised of three flow-through common shares and one common share at $0.24 per share. Each holder of common shares of record on the record date and residents of Quebec or Ontario will receive one right for each common share held. The rights will be evidenced by rights certificates and will be sent to each holder of common shares of record as of the rights record date entitled to receive rights.
Symbol: MAU.RT
Shares trade ex-rights: November 27 1997
Cusip No: 576905 11 9
Record Date: December 1 1997
Subscription Basis: 16 rights will buy 4 common shares at $0.24 per share
Expiry Date: December 31 1997 at 4:00 pm (Montreal time)
Trading Ex-Rights as of: November 27 1997
Regular Trading: December 5 1997
Removal From Trading: at 12:00 pm (noon)on December 31 1997
Basic Subscription Right: Rights may be exercised by duly completing and signing form 1 on the rights certificate and delivering the rights certificate, with the total subscription price to the Montreal Trust Company of Canada, at one of its offices in Montreal or Toronto. Completed rights certificates and the related payment delivered or mailed to any such office must be received there before 4:00 pm, Montreal time, on the expiry date.
Subscriptions must be for whole common shares only. Fractional common shares will not be issued.
Additional Subscription Privilege: Any holder of a rights certificate who exercises the right to subscribe for all the common shares that can be initially subscribed for with the rights evidenced by such certificate is entitled to subscribe for additional common shares. The common shares available for additional subscriptions will be those that have not been subscribed and paid for in the initial subscriptions.
To exercise such privilege, any holder of a rights certificate who completes form 1 for the maximum number of whole common shares that can be initially subscribed for with the number of rights evidenced by such certificate must also complete form 2 on the rights certificate and specify the number of additional common shares desired to be subscribed for. When delivering the completed rights certificate and payment for the common shares initially subscribed for under form 1 to the Montreal Trust Company of Canada, the total subscription price of such additional common shares must be paid.
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Canadian Exchanges News
Canadian Securities Exchange News
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.
