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.
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On 20 September 2016, Chinalco Yunnan Copper Resources Ltd (Company) announced a pro-rata, non-renounceable rights issue to eligible shareholders, on the basis of 1 new fully paid ordinary share (New Shares) for every 2 shares held, at an issue price of $0.
The company has also undertaken a prorata, non-renounceable rights issue of one new share for every one existing share held at an issue price of $0.
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.
QrxPharma has also launched a 1-for-20 non-renounceable rights issue, which, if fully subscribed, would bring additional proceeds of AUD10.
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 allotment was made pursuant to a Prospectus dated 26 July 2016 for a pro-rata Non-Renounceable Rights Issue which closed at 5.
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.
BOSTON & PERTH, Australia -- Global bio-nanotech company pSivida Limited (NASDAQ:PSDV) (ASX:PSD) (Xetra:PSI) today announced that the Company's Non-Renounceable Rights Issue has closed.