Name -
Website -
Symbol - OES.RT
Cusip Number - 67572F 12 9
Expiry Date - Nov. 28, 2003
News Releases
Octane Energy Services rights offering
2003-10-27 14:39 MT - Rights Offering
The company will offer to shareholders of record on Nov. 5, 2003, rights to purchase shares of the company. One right will be issued for each share held. Four rights and 15 cents are required to purchase one share. The expiry date for the rights offering is Nov. 28, 2003. As at Oct. 22, 2003, the company had 28,181,526 shares issued and outstanding.
Effective at the opening, Nov. 3, 2003, 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 an oil field services company.
Summary
Basis of offering: 7,045,382 (four) rights exercisable for one share at 15 cents per share
Record date: Nov. 5, 2003
Shares trade ex-rights: Nov. 3, 2003
Rights called for trading: Nov. 3, 2003
Rights trade for cash: Nov. 25, 2003
Rights expire: Nov. 28, 2003
Rights trading symbol: OES.RT
Rights Cusip No.: 67572F 12 9
Subscription agent and trustee: CIBC Mellon Trust Co.
Authorized jurisdiction(s): Alberta, B.C., Manitoba, New Brunswick, Newfoundland and Labrador, Northwest Territories, Nova Scotia, Nunavut, Ontario, PEI, Quebec, Saskatchewan, and Yukon
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.
