this is new territory for me, maybe some one can explain what i am to make of seeing this : CHEMSPEC CSP 2,000 47 R 931.61 46 R 920.00 R -11.61 -1.2% +2 +4.4% 0.47% CHEMSPEC NPL CSPN 2,000 3 R 60.00 3 R 60.00 R 0.00 0.0% +3 +300.0% 0.03% basically, i hold 2000 CSP shares (see first 2 lines) and this morning i saw a second line (chemspec npl) with another 2000 shares. the value per share has been changing by 1c up or down. pretty sure that yes, it must have something to do with the rights issue, and my accounting theory lets me understand the basis of a rights issue, but pls can someone explain to this ignoramous how this translates into practice, and what action is required if any ?
Each Chemspec N share is a "Nil paid right issue share". Basically, each N share is a right to subscribe for one Chemspec share. You can either sell the N shares before they need to excerised or keep them and follow your rights.
because the share price is about 45c, the NPL offer is @ 40c. so you would try to sell your rights @ 5c..... gonna have to find someone who wants them and you'd have to have a lot of shares to make enough to just buy a beer for you and the buyer.