Name - Coldswitch
Technologies Inc
Website -
Symbol -
Cusip Number -
Expiry Date -
News Releases
Coldswitch rights offering
2002-01-11 16:19 MT - Rights Offering
The company has announced it will offer to shareholders of record on Jan. 23, 2002, rights to purchase shares of the company. One right will be issued for each share held. Four rights and 16 cents are required to purchase one share. The expiry date for the rights offering is Feb. 14, 2002. As at Jan. 10, 2002, the company had 15,034,029 shares issued and outstanding. Rights to subscribe for a total of 3,408,507 common shares will be issued to the holders of the common shares, excluding the company's wholly owned subsidiary, Coldswitch Holdings Inc., which holds 1.4 million common shares of the company.
Effective at the opening, Jan. 21, 2002, the shares of the company will trade ex-rights and the rights will commence trading at that time on a when-issued basis. The company is classified as a fibre optic switches and sensors development company.
Summary
Basis of offering: Four rights exercisable for one share at 16 cents per share
Record date: Jan. 23, 2002
Shares trade ex-rights: Jan. 21, 2002
Rights called for trading: Jan. 21, 2002
Rights trade for cash: Feb. 11, 2002
Rights cease trading: Feb. 14, 2002, 9 a.m. PT
Rights expire: Feb. 14, 2002, 4 p.m. PT
Rights trading symbol: CST.RT
Rights Cusip No: 193065 11 7
Subscription agent and trustee: Pacific Corporate Trust Company
Authorized jurisdictions: British Columbia, Alberta, Ontario
Rights give existing shareholders a chance to proportionately buy shares in the new issue the company is putting out to raise more funds. The certificate showing this privilege is called a right. It gives the stockholders the first opportunity, to buy the new securities.
Rights issue
An offer made by a company to its shareholders to enable them to buy new
shares in the company at a discount to the market price.
