21. Earlier today, Mobil increased its takeover bid for Ampolex ordinary and preference shares following talks with Ampolex over the weekend. 22. Earlier, Mobil announced its bids for ordinary and preference shares in Ampolex were unconditional. 23. If that decision is made, there will be a separate offering of preference shares to foreigners. 24. In November Zurich agreed to subscribe to new Peregrine convertible preference shares -- fixed-income securities that could later convert to stock. 25. Investors can gauge how well-covered the preference payment is by how much is already available to allocate to the preference shares. 26. Mobil has not yet said how much it will offer owners of the preference shares and convertible notes. 27. Nor will it apply to zero-coupon preference shares or to low-coupon gilts widely held by individuals. 28. One preferred limited voting ADR is the equivalent of four preference shares in Australia. 29. Sammut said the dive in News Corp. preference shares was a result of the dilutionary effect the new issue will have on earnings per share. 30. Some also complained during a question session about the valuation of their shares, particularly of preference shares. |
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