                                              501

      $60,     -
     (rights offering)    (subscription price) $50
 '6.     200 000 ($10000000/$50) 
. ,      4 000 000   ,  -
,        '/ (200 000/4 000 000)  -
 .          -
,   ,          
  20 . ,     100 ,   100 ,
   5 /)  .    
,         $50  ,    
    . ,  100   , 
$250 (5$50),    ,    100  - .
, ,  :      ?

       
 .     ,        
      (ex-rights date).    
        :

C-(RN+S)=R,                         (17.2)

 ї   ;

R   ;

N   ,     ;

S   .

 (17.2)    .  
          ,  
    (),      .
     :  ,  RN, -
   ,     ,  -
  S,    .     
 (RN+S).      
 ,        ,     .
 ,        -
  (RN+ S)     R,     (17.2).

    (17.2)     :

 Co-S
^-N+-                        ()

,            $60
  $0,48 [($60-$50)/(20+1)].

          
       :

C-(/yv+ 5) =0,                               (17.4)

 Q          
.       (17.2). -
          ф   -
     ,   ,    
RN+ S.           -
  ,      ,  

17 1147