Renounceable Right

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Renounceable Right

A right attached to a security that one may buy or sell separately from that security. The right is usually the ability to buy more shares in a publicly-traded company at a discount, especially after a new issue of stock that would otherwise dilute the stockholder's holding. If one sells a renounceable right, its buyer receives this ability. It differentiates from a nonrenounceable right, which always must remain attached to the security with which it was originally issued.
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crimes are renounceable, and renunciation could not occur were the
MELBOURNE, Australia -- Benitec Ltd (ASX:BLT), a world leader in RNA-based gene silencing for human therapeutics, today announced its fully underwritten AU$8 million renounceable rights issue, incorporating an entitlement offer and a shortfall offer, had successfully closed oversubscribed.
The newly prescribed disclosure and certifications requirements, as incorporated in the revised circular, are in line with the best international practices wherein renounceable right is categorized as public offers thereby requiring detailed disclosure synonymous to a prospectus.
The Prior Announcement advised that the Company was contemplating undertaking a renounceable rights issue on the basis of 2 new shares for every 1 share held at a price of AUD$0.
2bn renounceable rights offering at a discount of 46.
The sales were made pursuant to the Prospectus dated 2nd September 2009, originally used for the Company's Renounceable Rights Issue that closed on 6th October 2009.
The secured listed convertible participatory redeemable capital is being offered by way of a renounceable right offer to existing shareholders in accordance with their existing shareholding.