If there is a rights issue on a stock example RBA, will this come through on the our portfolio's or will this not cater for it in the investor challenge?
Shareholders were notified by way of a SENS announcement on 2 April, 30 April, 24
May and 31 May 2013 that the directors of RBA have decided to raise R10 million by
way of a partially underwritten rights offer, through the issue of 125 000 000 ordinary
shares at a subscription price of 8 cents per share in the ratio of 28.69 new ordinary
shares for every 100 ordinary shares held in RBA at the close of business on the record
date. The rights offer has been underwritten to a total of R 9.145 million.
The circular to shareholders has been approved by the JSE. There are no further
conditions precedent and therefore the rights offer will proceed as per the timetable
below.
