Name - Fosters Resources Ltd
Symbol - FRE-RT
Cusip Number - 35025W 12 1
Expiry Date - October 10 1997
1997-09-03 16:57 MT - Rights Offering
The company is issuing rights to the holders of its outstanding shares of record at the close September 9 1997. Shareholders will receive one right for each share held. The rights offering circular has been cleared in the provinces of Alberta, BC, Ontario and New Brunswick.
The rights will be posted for trading September 5 1997. The shares will commence trading on an ex-rights basis at the opening September 5 1997.
Security No: ISM-834 767
Cusip No: 35025W 12 1
Price: Four rights to purchase one share
Expiry date: October 10 1997
Trading date: October 8 1997
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.