First REIT

[iisterry]

...

Hi Lonewolf, I understand your point but I think you are slightly mistaken on what I'm trying to say.

I have existing units so I have entitled rights as well as nil-paid rights bought off market.

If I were to buy nil paid rights and exercise them, a unit cost would be approximately $0.50 + $.165 = $0.665

However If I were to apply for excess rights, I would only need to pay $0.50 per unit (excluding those exercised with entitled rights). Am I correct to say this? It would seem then, applying for excess rights to make up a whole lot would be more cost efficient than buying odd nil paid rights off the market.

For nil paid rights holder who try to apply for excess, it seems to be a 0% success rate according to the CNA forumners.