Name - Microcell Telecommunications Inc
Symbol - MTI.RT
Cusip Number - 59501T 15 5
Expiry Date - Dec. 17, 2001
Microcell Telecommunications rights offering
2001-11-20 16:44 MT - Rights Offering
TSE bulletin 2001-1425
Holders of Class B non-voting shares of record as of the close on Monday, Nov. 26, 2001, will be granted the right to subscribe for 1.77 additional Class B shares for every one Class B share of the company held on such record date at a subscription price of $2.05 per share. The rights are evidenced by transferable rights certificates registered in the names of holders of Class B shares, Class A non-voting shares (not listed), common shares (not listed) and warrants (not listed), to purchase Class B shares of record on the record date on the basis of one right for each Class B share held, one right for each Class A share held, one right for each common share held and one right for each warrant held, one right and the sum of $2.05 being required to subscribe for 1.77 additional Class B shares. The rights will expire at 5 p.m. (Montreal time) on Dec. 17, 2001.
The Class B shares will commence trading on an ex-rights basis at the open on Thursday, Nov. 22, 2001, at which time the rights will be posted for trading on a "when issued" basis.
Cusip No: 59501T 15 5
Designated market maker: K. ThomsenDesjardins Securities Inc.
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.