Pac Andes: The issue is 1 right for every 2 existing shares at $0.14 per right share. The closure date for the issuance of rights was on record date 20 Mar. The rights have started trading since 23 Mar and will trade till 2 Apr 5pm. At current rights price of $0.021 and conversion cost of $0.14, the total cost of a rights share is currently $0.161 ($0.14 + $0.021)
The mother share is trading cum dividend at $0.172. However after the mother share trades ex-div (div of 1.08c), the ex-div value is $0.1612, compared to which the rights are currently trading at a slight discount.
The rights shares are not entitled to the dividend of 1.08c.
The last date of accepting the rights and payment is on the 11 Apr at 5pm (9.30pm for electronic applications) and the rights shares will be issued on the 19 Apr.
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