Interesting discussion with my broker this morning. I was...

Interesting discussion with my broker this morning. I was looking to place an online buy order on AGYRA. The settlement price I was given included both the cost of the rights AND for the associated shares that would be purchased if I exercised those rights.

I explained that I wasn't obligated to exercise those rights, and if I did, it probably wouldn't be through them anyway, it would be direct with Argosy. So why were they taking payment for the shares as part of this rights purchase transaction? There was plenty of discussion back and forward without a rational answer, but the conclusion is that they will only execute an AGYRA buy order which including payment for the rights and shares that those rights represent.

This effectively means I can't participate in trading these rights as I don't have funds to cover the final share settlement at this point in time.

I'm new at this game, so it's more than likely I've missed something, but it doesn't seem right to me. Can anyone explain?

Thanks