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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References in periodicals archive ?
Release date- 14112009 - CAL Bank Ltd is pleased to announce the successful completion of its renounceable Rights Issue.
With its current investors taking up 87% of the units in the two-for-nine renounceable rights offer, Vital Healthcare Property Trust has secured $160 million.
The LOI above also contemplates the Company undertaking a 2:1 renounceable rights issue at $0.0125 per share to raise up to approximately $60.3 million.
Standard Chartered Bank Ghana, a unit of Standard Chartered Bank Plc (LSE: STAN) (STD.DE) (OTC: SCBFF) (HKG: 2888), has announced a GHC48m renounceable rights issue of 1,655,172 ordinary shares, valued at GHC29.00 per share.
is in the process of raising a minimum of US$5 million in additional capital through a pro rata renounceable rights issue of fully paid ordinary shares in the Company for up to A$7.75 million (before costs).
Perth, Australia, Oct 4, 2012 - (ABN Newswire) - Further to the dispatch of the Company's Prospectus for a Renounceable Rights Issue, the Board of Northern Mining Limited (ASX:NMI) is pleased to provide you with a brief Company update, including a current map of its East Kalgoorlie Project tenements in Western Australia.
RHB Capital said that it will fund the proposed acquisition via a renounceable rights issue of 361.1 million shares at MYR3.60 per share.
Earlier on Dec 23, MAHB shareholders had granted approval for the purchase of the stakes and had also given their approval for the renounceable rights issue of 275.77 million shares in MAHB on the basis of one rights share for every five MAHB shares.
It is underwritten by private equity group Centerbridge Partners, which has refinanced much of Boart's debt and could end up with a controlling equity stake if the driller's shareholders shun the 0.9798-for-one renounceable rights issue.
Perth, Australia, Mar 13, 2012 - (ABN Newswire) - The Directors of the Resource Mining Corporation Limited (ASX:RMI) are pleased to advise that the Renounceable Rights Issue closed on 7 March 2012 with Eligible Shareholders taking up 28% of the Rights Issue.
According to MAHB, during its Extraordinary General Meeting (EGM) held on Tuesday, shareholders have sanctioned the renounceable rights issue of 275.77 million shares in MAHB on the basis of one rights share for every five MAHB shares.
BDB while filing at the Bursa Malaysia stated that, It had also proposed a renounceable rights issue of new ordinary shares of RM1 each in BDB to raise gross proceeds of up to RM95 million, together with a bonus issue of new shares.