21.   Cash placings are normally cheaper than rights issues.

22.   This may come from existing reserves, bank facilities, a rights issue or a cash underwritten alternative.

23.   However, this will not be necessary if the bidder already has in place from its last AGM an authority to issue sufficient shares for the rights issue.

24.   It should be noted that a cash underwritten alternative may result in lower underwriting costs than a rights issue.

25.   The City was not too deterred by the rights issue which was offset by strong interim figures and an improved dividend payout.

26.   A rights issue is a means by which a company raises capital by offering new shares to existing shareholders at a fixed price.

27.   A spokesman for the exchange said that, assuming the recent wave of rights issues continued, this year should see a return to better levels of profitability.

28.   Brokers blamed fears of rights issues from ICI and Glaxo this week, and higher than expected bad debt provisions at National Westminster for the change of mood.

29.   The rights issue proceeds will be injected into the ICI rump to allow the former parent to pay down debt.

30.   And while Bulger was not exactly an activist on gay rights issues, Birmingham was endorsed by gay rights groups during his election campaigns.