Name - Axia Multimedia Corporation
Symbol - AXX.RT
Cusip Number - 054918 11 5
Expiry Date - November 8 1996
1996-10-15 15:48 MT - Rights Offering
The ASE has been advised that the company is issuing rights to the holders of its issued and outstanding shares of record at the close of business on October 17 1996. Holders will receive one right for each common share held. The rights offering circular has been cleared in the province of Alberta, BC and Ontario only.
The rights will be posted for trading on October 15 1996. The common shares will begin trading on an ex-rights basis at the opening of business on October 15 1996.
Expiry date: November 8 1996
Cash trading date: November 6 1996
Exercise price: Four rights and $0.99 to purchase one common share. Each holder of a rights certificate who exercises all of the rights evidenced by such certificate may subscribe for additional common shares not taken up under the initial subscription.
Rt stock symbol: AXX.RT
Security code: ISM - 834 485; WCCC - 834 406
Cusip No: 054918 11 5
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.
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.