41.  Gencor plans to give existing shareholders shares in both new companies and move the headquarters of the base metals and minerals company to London, according to the reports.

42.  Guoco Holdings Corporate Secretary Daisy Parker said a portion of the shares will be offered to existing shareholders.

43.  He maintains that money set aside to pay continuing dividends to existing shareholders is inadequate.

44.  In a rights issue, a company offers existing shareholders more stock, typically at a discount.

45.  Instead, he hopes to persuade existing shareholders that he can do a better job running the company than its current management.

46.  Instead, it may spin off the unit to its existing shareholders.

47.  It calls for existing shareholder stock-purchase rights to be redeemed and new rights to be distributed as a dividend.

48.  It would also reward existing shareholders by maximizing earnings and dividends per share.

49.  Kobren agrees that closing the fund would benefit existing shareholders.

50.  Mainstay Convertible has closed to new investors, but existing shareholders can continue to buy shares.