Non-Renounceable Right

Non-Renounceable Right

A right that a corporation may sell to shareholders (but that shareholders may not sell) giving them the ability to buy more shares in that corporation at a discount to market value. Companies usually issue rights in conjunction with new issues of stock, which would dilute current shareholders' holdings if not accompanied by rights or something similar. Non-renounceable rights put shareholders in the position of either taking advantage of the rights or allowing one's shares to be diluted. It specifically precludes the possibility of the shareholder making a profit from the sale of the rights.
References in periodicals archive ?
The second step will see the Company complete a pro-rata, non-renounceable Rights Issue offering in early June, which the Company believes will be fully subscribed, bringing its cash position mid-year to about $44M.
PRO-RATA NON-RENOUNCEABLE RIGHTS ISSUE As announced on 6 August 2014,
The application concerned a 1 for 1 non-renounceable rights issue and a share purchase plan by Sherwin to raise up to approximately $41 million and the potential effect on control arising from the Citizen Parties, who hold 78.
Sydney, Australia, Feb 10, 2014 - (ABN Newswire) - Platina Resources Limited (ASX:PGM) (OTCMKTS:PTNUF) is pleased to announce that it has today lodged with ASIC the Prospectus (Prospectus) for a non-renounceable rights issue to eligible shareholders, on the basis of 1 new option to subscribe for fully paid ordinary share for every 1 share held, at an issue price of $0.
Release date- 18102012 - Zambezi Resources Limited has completed the non-renounceable rights issue on the basis of two fully paid ordinary shares for every three fully paid ordinary shares as announced on 20 August 2012.
The bank, with the BNM's approval, has also increased its paid-up capital via a non-renounceable rights issue.
In addition to the placement, ChemGenex intends to offer eligible ChemGenex shareholders the opportunity to participate in a non-renounceable rights issue to acquire 1 new share for every 14 shares held to be issued at the same price as the placement, being A$0.
SYDNEY, April 27, 2015 /PRNewswire/ -- US-Australian drug discovery company, Novogen Limited (NRT: ASX; NVGN: NASDAQ) ( Company ), announced last week that it lodged a prospectus with ASIC on 23 April 2015 relating to its pro rata non-renounceable rights issue ( Offering ).
and announce a non-renounceable rights issue to raise approx.
5 for 10 non-renounceable rights issue to expand its currently drilling program at the Tin Creek Camp uranium project in the Northern Territory.