Name - Sceptre Resources Limited
Symbol - SRL.RT
Cusip Number - 806214 12 8
Expiry Date - November 2 1992
1992-10-05 13:53 MT - Rights Called to Trade
The Montreal exchange reports
Further to the company's plan of arrangement, each common shareholder of record at the close of business on October 9 1992 other than common shareholders who exercise the right of dissent in respect of the special resolution approving the arrangement, will be entitled to receive, for each common share held, 2.3 rights to subscribe for additional common shares. The rights will be evidenced by rights certificates and will be sent to each holder of common shares of record as of the rights record date entitled to receive rights.
Each right will entitle the holder to purchase one additional common share at $0.30 per share.
The rights will be admitted to trading on a when issued basis at the opening of business on October 5 1992.
Cusip No: 806214 12 8
Record date: October 9 1992
Basis: One right and $0.30 per common share
Expiry date: November 2 1992 at 4:00 pm (local time)
Trade Ex-Rights: As of October 5 1992
Regular Trading: October 15 1992
Removal: At 12:00 pm (noon) on November 2 1992
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.