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http://www.thebull.com.au/articles_detail.php?id=2976
down 11.9%, keeps on sliding. Stops hit?
Both BHP and Rio adding some weight today.
"Nothing has been announced by the company. It is all speculation."
Rio Tinto and Chinalco announced today that they have obtained clearance from the
Committee on Foreign Investment in the United States ("CFIUS") regarding the proposed
issue of convertible bonds to Chinalco and the indirect minority investment in Kennecott
Utah Copper Corporation, as contemplated by the strategic transaction announced by Rio
Tinto and Chinalco on 12 February 2009. Rio Tinto and Chinalco jointly filed a voluntary
notice with CFIUS in connection with the transaction. The receipt of CFIUS clearance
satisfies a regulatory pre-condition to the transaction.
what significance does this have actually? thanks in advance!
+1
Would like to know too. If I've read the news correctly - this is a good thing for RIO share price.
This may seem like stupid question but im only new to the stock market, but does that announcement basically say if you have less than 40 shares you cannot participate in the rights issue?
Entitlements to New Shares will be rounded down to the nearest whole number and fractional entitlements will not be allotted to Shareholders but will be aggregated and sold in the market for the benefit of Rio Tinto.....
So, with the Chinalco deal falling through, and a rights issue on the cards, anyone know when the hold date for RIO shares might be to be entitled to the rights and will they even have an issue for the private investors ?
Shares are trading cum rights at the moment.
Record date is 11 June so with 3 day settlement they should still be cum rights on Monday but check with your broker.
It's a 21 for 40 entitlement issue so private investors participate. I don't know what happens for holdings of less than 40 shares.
Edit. Previous post covers fractions.
No, for Australian investors the record date is the 22nd. The 11th is for RIO plc.
It really is a substantial discount, I must say; I just might take it up: Either way, my BHP holdings are sitting very pretty
No, for Australian investors the record date is the 22nd. The 11th is for RIO plc.
It really is a substantial discount, I must say; I just might take it up: Either way, my BHP holdings are sitting very pretty
I couldn't the record date for Australia, please advice where you get this information from?
thank you
RIO announcements a-plenty. The allocated space for announcements on RIO's ASX page has been filled with today's offerings.I couldn't the record date for Australia, please advice where you get this information from?
thank you
No, for Australian investors the record date is the 22nd. The 11th is for RIO plc.
It really is a substantial discount, I must say; I just might take it up: Either way, my BHP holdings are sitting very pretty
Not quite right either, Nyden.
Record date for Rio Tinto PLC is close of business on 15 June.
Must admit I don't quite follow this business of "Record Mailing Date for first posting of Rio Tinto Limited... 11 June " but it seems pretty clear that RIO shares are cum issue at the moment and are quoted ex rights on 17 June.
Sorry I'm quite new to the market and have some RIO Shares
Would you be allowed to buy more than you're entitled too in the rights issue?
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