The rights issue
's backers - investment banks Citi and UBS - as well as a clutch of high street banks - will hold almost 427 million new shares in B&B between them, representing 29.5% of its 1.45 billion shares in issue.
A further announcement on the rights issue
is expected in due course.
Pepper said: "The rights issue
smacks of a clumsy approach to stay independent.
Black women often criticized the tendency of black men to see interracial intimacy as a civil rights issue
, instead insisting that who one dated and married was a private matter.
The above example implies that it is normal for prices of the new and old shares to be depressed during a rights issue
, but most prices improve after the absorption of the issue.
Ambea's larger shareholders representing approximately 72.9% of the shares and votes in the company have expressed their support for the rights issue
through subscription commitments or intentions to subscribe.
The rights issue
, which opened on January 15, 2018, will close on February 21, 2018.
The above resolution of the Board supersedes and replaces the rights issue
which was approved by the Board on 29 March 2015.
In the rights issue
mode, shares are issued to existing investors at a pre-determined price, normally at a discount, in proportion to their holdings.
Shares under the rights issue
will be offered at 0.6 cent per new share, with a maximum of 568,529,569 new shares to be issued.
Government backed financial organisation The Royal Bank of Scotland denies that its GBP12bn rights issue
in April 2008 was imposed by the City regulator, the Telegraph reported on Saturday.
The first $1.3 million payable by Freefire in respect of the Rights Issue
(see below) (whether taking up entitlements or in respect of underwriting obligations) shall be set off against the loan sum of $1.3 million.