Further, Mechanics stated that it has commenced a rights offering to its current shareholders of record date on 26 July 2019, whereby they will receive 1.10 subscription rights
for each share of common stock owned as of 17:00 Pacific Time.
According to Computershare Trust Company, the subscription agent for the rights offering, as of the expiration date, 68,604,395 basic subscription rights
were exercised to purchase an aggregate of 47,218,016 shares of common stock and 303,590,241 additional shares of common stock were subscribed for under the over-subscription right, subject to proration.
This increase will be as follows: A capital increase in cash in the amount of 4,846,875 dinars with preferential subscription rights
, by the creation of 4,846,875 new ordinary shares to be subscribed in cash, at the rate of (1) new for (1) old.
Subscription of shares with subscription rights
shall be made through payment in cash during the period from and including 23 January 2019 up to and including 6 February 2019.
Under the terms of the rights offering, Cemtrex will distribute, at no charge, non-transferable subscription rights
to purchase one share of its common stock to holders of record for each share of common stock held on the record date, and one share of its common stock to holders of record for every 10 publicly traded warrants held on the record date.
This rights offering allows its right holders the opportunity to increase their respective ownership in the company by exercising their subscription rights
for USD 6 per share.
"We have approved the rules to start trading on separate subscription rights
for non-listed company," Mohamed Farid confirmed.AaAaAeAcAaAeAeA AaAaAeAcAaAeAeA A subs right is the right of existing shareholders in a company to retain an equal percentage ownership over time by subscribing to new stock issuances at or below market prices.
Shareholders voted to approve a proposed increase in the share capital of the Company from QAR 3,266,292,100 to QAR 3,854,527,394 by way of offering of 58,823,529 new ordinary shares for subscription to eligible shareholders and holders of subscription rights
in the proportion of (1 share) for every (5.5 shares) held.
Stockholders may exercise their basic subscription privilege for some or all of their subscription rights
, or stockholders may choose not to exercise any basic subscription rights
9 May 2014 - US Liberty Media Corp (NASDAQ:LMCA) said its board had cleared a plan to spin off its cable business into a new public company called Liberty Broadband through a tax-free distribution to shareholders of Liberty Broadband common shares and subscription rights
to buy Liberty Broadband's common shares.
Under the terms of the rights offering described in the prospectus, the form of which was contained in a registration statement on Form S-1 declared effective by the Securities and Exchange Commission (the "SEC"), ESW will distribute at no charge non-transferable subscription rights
to purchase up to an aggregate principal amount of $4,596,929 10% Senior Secured Convertible Promissory Notes due 2018 issued by ESW to stockholders who owned shares of ESW common stock as of the close of business on February 13, 2014, which is the record date for the rights offering.