"Securities are expected to be allotted on 10 October 2006 and will rank on a pari passu basis for distributions for the half year ending 31 December 2006. This means distribution entitlements of the new Securities will accrue from 1 July 2006. "
This paragraph is in a news release today for MLE regarding a SPP they have coming up. Can anyone tell me what they mean by "pari passu basis"?
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