TSX:IBG.DB.E - Post by User
Comment by
nkbourbakion Nov 24, 2015 11:18am
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Post# 24319737
RE:Rights offer - clarification needed
RE:Rights offer - clarification neededTurnOffYourMind wrote: I was wondering if someone could help clarify the mechanism for purchasing additional shares through the Rights Offering? Is something mailed to us? Do we need to phone someone? Any help would be great. Thx
Rights will be granted to you based on your holdings of the common stock on the record date. You'll get one right for every share of IBI you owned at 5pm on November 19.
The rights will appear in your brokerage account and will stay there until they are either exercised, traded, or they expire. To "exercise" your rights means you will purchase 1 share of IBI for the cash sum of $1.60 along with 4 rights. You generally have to call your brokerage to do such a thing. But you could also trade them instead, since they'll be listeed on the TSX. Just beware that they expire sometime at 5pm on December 18, after which they'll have no value.