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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The renounceable entitlement issue will take place shortly after the transaction is implemented so that shareholders of both Catalpa and Conquest can participate.
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 company has also raised another AUD174m from the institutional component of a renounceable entitlement offer.
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.