I have not dealt with renounceable rights issues before. I have taken up my small entitlement but I'm wondering how the traded rights work. For instance if I want 2000 new shares I buy 2000 rights on market and I'll be entitled to buy 2000 more shares at $2.50, with total cost essentially being $2.50 + price per right. Am I in the right track with this? if so how do I then purchase the extra shares now that I have these rights?
Thanks in advance.
Ann: Entitlement and Information Booklet, page-2
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