rights issue


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rights issue

an issuing of extra shares. A company may raise additional capital from its members as opposed to from the public at large by issuing extra shares; this is called a rights issue. See PRE-EMPTION.
References in periodicals archive ?
According to the company, proceeds from the rights issue will mainly be used to finance the further clinical development of KL1333 and preparing for the start of clinical phase II efficacy study of NeuroSTAT, as well as to the company's other drug development projects in pre-clinical phase.
The rights issue is a financial instrument representing the rights that are legally granted to the company's shareholders to have priority in subscribing for the company's capital increase shares that will be issued.
11 crore shares after the completion of rights issue offering.
Taking this into consideration, as well as the costs of complying with the legal requirements and the requirements of the regulatory authorities relating to the shareholders with registered addresses in various jurisdictions outside of Australia, New Zealand, the Hong Kong SAR and the Cayman Islands, the Company has formed the view that it is unreasonable to extend the Rights Issue to those shareholders who do not reside in Australia, New Zealand , the Hong Kong SAR and the Cayman Islands.
Shareholders' approval is still required, with a vote on the rights issue expected to be held on February 17.
According to the Telegraph, the denial comes as RBS seeks to defend itself and four former directors from a GBP4bn shareholder lawsuit and dismisses claims from investors, including Prudential and Standard Life, that it undertook the rights issue at the behest of the Financial Services Authority (FSA).
The 185-page prospectus for the rights issue also disclosed that it would have to pay PS100m in refunds to about 300,000 customers after maKing errors in personal loan paperworK.
This means that if the rights issue were to be set immediately, the discount versus the market price would be almost the same.
It was headed by chairman Marwan Boodai, who told reporters that "this rights issue is of strategic importance for the company and will help fund future growth plans as well as close current high-interest commitments.
Saudi Fransi Capital confirmed that the receiving banks had received subscription applications for in excess of 632 million shares by the close of the rights issue offer period, representing demand of SR6.
The board has approved an underwriting syndicate of existing shareholders and other investors that will subscribe the rights issue by NOK60m.
TV), a company engaged in the exploration and extraction of oil and natural gas based in Israel, has announced that its board of directors has approved a rights issue to raise capital up to USD32.

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