I've not encountered this before, so just chasing some information.
I have 21000 shares and was offered 1500 rights. Does this mean I can buy a further 1500 shares at $0.13 some time later?
I can sell these rights at .001 or I can purchase more rights. If I grab another 500000 at 0.001 then I am eligible to purchase 501500 shares at $0.13 later. Not that I would, but is that the gist?
As the share price is below $0.13 it would seem foolish to purchase now. However, the new shares come with options that I wouldn't have access to otherwise.
Therefore, I can either hold and buy the 1500 I'm entitled to, sell my rights on, ignore my rights altogether or buy further rights to increase my future buying power. Again, I could just ditch the new volume, but I'd be silly because I'd bought more.
Is that it in a nutshell?
ACB Price at posting:
11.5¢ Sentiment: Buy Disclosure: Held
