You lent the shares to GH and consequently the right to 1 share passed to GH. If GH sold the shares then the right also passed to whoever now has the shares. If you demand your shares to be returned by Friday then you will have both the shares and the right. If you don't get them back by Friday then you will just have the shares. In all likelihood the shorters have possession of a large number of shares that have not been short sold. If the lender does not demand them back then the shorter will enjoy the rights to one twentieth of a large number of shares. If the lender does demand that they be immediately returned (as is the terms of the agreement), and the shorter does not have the shares then I imagine that the shorter would suffer a penalty. What the penalty might be I wouldn't know, but I imagine that at the very least it would include the rights issued share.
It might therefore put an upward pressure on both share price and rights price.
I'm just looking on with some interest, but it won't be long before I ascertain the wisdom of selling all my ORE shares earlier!
Pity our Canadian friends are unable to participate in the rights issue.
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