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[sharechat] Force Corp Rights Issue

From: "Matthew Laing " <>
Date: Wed, 19 Dec 2001 14:04:53 +1300


Just trying to get my head around the Force Corp rights issue.
Current the rights are trading at around 17cents. Buying a right
allows you the right to purchase a convertible note for $1, that
converts to 50 Force Corp (FOR) shares. Effectively, you are
purchasing Force Corp shares for 2cents each. (Not including cost to
purchase the right.) The Force Corp shares are trading at around
4cents each.

My query is: 
1) When do the convertible notes convert?
2) Is this a good deal - at current price levels you are effectively
picking up shares for half price. And from what I can gather there is
potential for a fair bit of price increase for this share?
3) What risks are associated and what are they likely to occur?

Interested in hearing other people's ideas about this offer as the
rights stop trading next month.

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