Caribbean Utilities (CUP.U)

Discuss your favourite picks, broker, and trading or investment style.
Post Reply
bindexit
Contributor
Contributor
Posts: 661
Joined: 24 Feb 2007 13:43

Caribbean Utilities (CUP.U)

Post by bindexit »

I'm starting a post on this one as not seen before (unless moderator can find and annex to an existing one).

I am a holder of their shares and noticed today an additional transaction in my account...RTS CARIBBEAN UTILITIES CO LTD RTS ON ORD CL A SHS? They are listed separate from my regular shares. I googled rights issue and think they are giving me rights to buy more shares? When clicked on this link for these rights, I think they were trading for around a penny?

I am busy today and will check with my broker later in week. Any here had thoughts or suggestions on these rights?

BTW I have been happy holder since my initial investment (re: bought when $C was higher, receiving dividends in $US).
BRIAN5000
Veteran Contributor
Veteran Contributor
Posts: 9064
Joined: 08 Jun 2007 23:27

Re: Caribbean Utilities (CUP.U)

Post by BRIAN5000 »

http://finance.yahoo.com/news/caribbean ... 00343.html
Each Shareholder will receive one Right for each Class A Ordinary Share held on the Record Date.
Each ten (10) Rights entitle the holder to acquire one Class A Ordinary Share of the Company upon payment of the subscription price of US$10 .77 per share prior to the expiration of the Rights at 4:00 pm ( Toronto time) on April 30, 2015
This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed
User avatar
AltaRed
Veteran Contributor
Veteran Contributor
Posts: 33399
Joined: 05 Mar 2005 20:04
Location: Ogopogo Land

Re: Caribbean Utilities (CUP.U)

Post by AltaRed »

Is this a way to have a secondary offering leaving out the middleman and all their expenses? Could increase their float by 10% this way.

I see the stock was trading at 11.08 but closed today at 10.90
Imagefiniki, the Canadian financial wiki The go-to place to bolster your financial freedom
User avatar
Peculiar_Investor
Administrator
Administrator
Posts: 13271
Joined: 01 Mar 2005 14:52
Location: Calgary
Contact:

Re: Caribbean Utilities (CUP.U)

Post by Peculiar_Investor »

More details from their investors relations page, specifically Share Rights Offering - Caribbean Utilities Company, Ltd. including
What is a Share Rights Offering?
This is a means of raising capital by issuing new shares where these shares are offered exclusively to existing shareholders.
Imagefiniki, the Canadian financial wiki New editors wanted and welcomed, please help collaborate and improve the wiki.

Normal people… believe that if it ain’t broke, don’t fix it. Engineers believe that if it ain’t broke, it doesn’t have enough features yet. – Scott Adams
bindexit
Contributor
Contributor
Posts: 661
Joined: 24 Feb 2007 13:43

Re: Caribbean Utilities (CUP.U)

Post by bindexit »

Bump...

Sold out a while ago with a nice gain but always on my watch list.

Over the past week, this stock has seen little price fluctuation or movement. However, during the same time frame, Hurricane Irma hit the Caribbean with levels as high as Category 5. I wonder if no impact because their insurance covers losses to their operations? ...still watching.
Post Reply