This item is part of Stockwatch's value added news feed and is only available to Stockwatch subscribers.Here is a sample of this item:Deepwell Energy finalizes rights offering terms 2009-11-06 20:32 ET - News Release Mr. Jay Simmons reports DEEPWELL ANNOUNCES UPDATE ON FINANCING
Deepwell Energy Services Trust has finalized the terms of a rights offering to holders of its units. Deepwell will be issuing to holders of its outstanding units of record at the close of business on Nov. 19, 2009, transferable rights certificates to subscribe for units before 4:30 p.m. (Calgary time) on Dec. 18, 2009, on the terms set out in a rights offering circular dated Nov. 5, 2009, to be mailed by Deepwell to its unitholders. The rights offering circular will also be available on SEDAR. One right will be issued for each unit outstanding and four rights will entitle the holder to purchase one additional unit of Deepwell at 72 cents per unit. An additional subscription privilege will entitle holders of rights to subscribe for any units not taken up by other holders. The rights have been conditionally approved for listing on the Toronto Stock Exchange until Dec. 18, 2009. Shareholders who exercise all of their rights will also be entitled to acquire additional units, if available, pursuant to an additional subscription privilege as described in the rights offering circular. The remainder is available to Stockwatch subscribers.
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