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Pan African Resources to raise R700m

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Nero
Occasional Contributor

Pan African Resources to raise R700m

Will someone please inform me what the next sentince exactly means? "Says rights offer of 25.5 new shares for every 100 shares held to raise R700m" this was published on Friday but I'm not sure what it mean (I'm quite new in the trading field)
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10 REPLIES
Super Contributor

Re:Pan African Resources to raise R700m

For every 100 shares you hold, you qualify and have the right to take up 25.5 shares at the right offer price for e.g if you hold 1000 shares you have the right to buy 255 shares at the rights offer price. There are no brokerage fees involved.
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Nero
Occasional Contributor

Re:Re:Pan African Resources to raise R700m

Thank you very much for the info.
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Super Contributor

Re:Re:Pan African Resources to raise R700m

or you can sell the right to those 255 new shares
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Nero
Occasional Contributor

Re:Re:Re:Pan African Resources to raise R700m

How do I go about to buy these shares?
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Super Contributor

Re:Re:Re:Re:Pan African Resources to raise R700m

thwere will be an LDT to receive the new rights, they called NPL's .. you then either selct exercise or sell them as per normal, they will have code PANN ..
video on NPLs at http://www.justonelap.com/webinarDetail.asp?intWebinarID=23
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Nero
Occasional Contributor

Re:Re:Re:Re:Re:Pan African Resources to raise R700...

Thank you very much Simon
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N/A

Re:Pan African Resources to raise R700m

umm.. did i miss something when was the rights offer announced and when do these shares become available? I have nothing showing on my portfolio regarding the rights offer.
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Super Contributor

Re:Pan African Resources to raise R700m

See SENS dated 7th November amongst others.
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N/A

Re:Re:Pan African Resources to raise R700m

Thanks; been offline for awhile.. just went through it now. Wonder what price the offer will come in at.
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Highlighted
royzen2
Contributor

Re:Re:Pan African Resources to raise R700m

Any idea what the ordinary share price could be after these rights have been exercised? I failed to read SENS before buying into this share. I always avoid companies with rights issued.
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