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Non-Renounceable Right

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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.


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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.
The Bank, with the BNM's approval, has also increased its paid-up capital via a non-renounceable rights issue.
 
 
 
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