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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Post quarter end the West Australian based company announced a 1 for 10 pro rata non renounceable rights issue to raise up to $1.05 million to advance its flagship McDermitt project as well as the Widgiemooltha project.
There are two types of rights issue, renounceable rights and non-renounceable rights.
The cash call expects to raise RM223.39 million based on the indicative issue price of 10 sen per renounceable rights share.
Patersons Securities is underwriting AUD1.1m of the total amount to be raised in the pro-rata renounceable rights issue.
IEF shareholders are being asked to take part in a two-for-one pro-rata renounceable rights issue as part of a range of initiatives being undertaken by the fund to reduce debt levels.
The raising includes a placement of 25 million shares at USD0.36 per share to raise AUD9m and one for five renounceable rights issue at USD0.36 per share to raise up to AUD21.5m.
The bank said that it has fixed the issue price of its upcoming USD3.2bn renounceable rights offering at a discount of 46.1% to the theoretical ex-rights price for the H-share tranche and 42.7% for the A-share tranche.
Sydney, Australia, June 29, 2007 - (JCN Newswire) - IBA Health Limited (ASX: IBA) - Australia's largest listed eHealth company, today announced today that following the closing of its 2 for 5 renounceable rights issue, acceptances were received for 137,726,782 New Shares.
As a result of these discussions, it was agreed between MBL and the Company, on 2 September 2019, that the following amendments be implemented: Debt reduction - $20 million reduction (50%) of the current outstanding $40 million debt to be funded from new equity raised by the Company by way of a pro-rata renounceable rights issue.
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$0.013 cents per new share to raise up to approximately AUD$62.6 million (Rights Issue).
Release date- 14112009 - CAL Bank Ltd is pleased to announce the successful completion of its renounceable Rights Issue.