In a rights issue, "extinguishment" means the loss of value or expiry of Rights Entitlements (REs) that are neither subscribed nor renounced (sold) by the closing date. If you hold RE shares but don't sell them or pay the application money, they'll be debited/extinguished after the rights entitlement closing date. Typically, the closing date falls 3–5 days after the renunciation period ends.
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