Arion nil-paid rights to begin trading Dec 5

ARION Entertainment said on Monday that trading of provisional allotments of rights shares will begin at 9am on Dec 5 and end at 5pm on Dec 13.

Shareholders have until 5pm on Dec 19 for the acceptance and payment for rights shares. For electronic applications, the cut-off time is 9.30pm.

The expected date for the issuance of the rights shares is Dec 27. Trading of rights shares will commence at 9am on Dec 28.

Arion is issuing up to 507 million new ordinary shares at 0.8 Singapore cent apiece, on the basis of one rights share for every one existing share held by shareholders as at the books closure date.