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Name - zed.i solutions inc
Website -
Symbol - ZED.RT
Cusip Number - 989214 12 7 
Expiry Date - Dec. 13, 2002
News Releases

zed.i to offer rights Nov. 22

2002-11-13 17:18 ET - Rights Offering

The company will offer to shareholders of record on Nov. 22, 2002, rights to purchase shares of the company. One right will be issued for each 100 common shares held. A principal amount of $2,685,500 in debentures will be issued if all rights are exercised. There is no standby agreement. As at Nov. 7, 2002, the company had 53,707,139 shares issued and outstanding.

A total of 13,427,500 common shares will be issued if all of the rights are fully exercised. The convertible debenture will bear interest at 8 per cent per year, and will mature on July 31, 2004. The debenture is convertible into common shares at a price of 20 cents until July 31, 2004.

Basis of offering: One hundred rights and $500.00 are required to purchase a convertible debenture in the principal amount of $500.00.
Record date: Nov. 22, 2002
Shares trade ex-rights: Nov. 20, 2002
Rights called for trading: Nov. 20, 2002
Rights trade for cash: Dec. 10, 2002
Rights expire: Dec. 13, 2002
Rights symbol: ZED.RT
Rights Cusip No: 989214 12 7

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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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