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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 - Progressive Minerals Ltd
Website -
Symbol - PVM.RT
Cusip Number - 74336E 11 7 
Expiry Date - August 2 1988
News Releases

1988-04-21 19:23 ET - Rights Offering

The company has announced it will offer to shareholders of record at May 3 1988 rights to purchase shares of the company.

Basis of offering: Two rights exercisable for one unit at $0.40 per unit
Record date: May 3 1988
Shares trade x-Rt: April 27 1988
Rt trade for cash: July 25 1988
Rt expire: August 2 1988
Rt trading symbol: PVM.RT
Rt security No: 834353
Rt Cusip No: 74336E 11 7

Wt trading symbol: PVM.WT.A
Wt security No: 908879
Wt Cusip No: 74336E 12 5
A Wt expiry date: January 30 1989
A Wt price: $0.46

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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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