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THE INVESTOR'S GUIDE TO WARRANTS:

Capitalize on the Fastest Growing Sector of the Stock Market, Second Edition (Hardcover)
 by Andrew McHattie   Rating: ISBN-10: 027303751X

 

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Name - Abacan Resource Corporation
Website -
Symbol - ABC.RT
Cusip Number - 00254T 12 5 
Expiry Date - March 31 1994
News Releases

1994-02-25 18:29 ET - Rights Offering

The ASE has been advised that the company is issuing rights to the holders of its issued and outstanding common shares of record at the close March 7 1994. Holders will receive one right for each common share held. The rights offering circular has been cleared in Alberta, BC, and Ontario.

Stock symbol: ABC.RT
Trading ex-rights: March 1 1994
Security code: ISM-834 158; WCCC-834 314
Cusip No: 00254T 12 5
Exercise price: 10 rights and $0.75 to purchase one common share
Expiry date: March 31 1994
Cash trading date: March 24 1994

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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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