Forum Archive Index - May 2001

["Michael Phillips" <michael.p@paradise.net.nz>]

I see that late on Friday Submarine Australasia (NCM) announced a 1:5
non renounceable rights issue of up to 10.5m ordinary shares at 30cps.
I take it from this that all shareholders with a stake in the company at
record date will be required to buy 1 new share for every existing 5
shares they hold at that time.  I assume shareholders on the register at
that time will be automatically contacted with details of how many more
shares they are required to purchase (my wife is going to love this).

If someone could clarify this for me I'd be ever so grateful.  I think I
have a grasp on it, but my memory has faded a little since reading up on
the finer points a while back.

Regards
Michael
===

disc: Hold SUB


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