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Rights Offering
9 Months Ended
Jun. 30, 2012
Rights Offering  
Rights Offering

Note 18 – Rights Offering

 

The Company has filed a registration statement with the Securities and Exchange Commission to offer subscription rights to purchase shares and the underlying common stock to the holders of our common stock as of July 2, 2012 and is awaiting effectiveness. Subscribing shareholders would be entitled to purchase one share of our common stock for each eight shares of our common stock they currently own, at a cash exercise price of $15.75 per share. The rights would be granted the shareholders without additional charge to them. The Company has entered into a contract with Registrar and Transfer Company appointing them as Subscription Agent for the rights offering. This rights offering would help fund capital expenditures, the retirement of debt and future growth opportunities.