May 22 (Reuters) - MSM Corporation International Ltd MSM.AX :
* TO UNDERTAKE 1-FOR-5 NON-RENOUNCEABLE PRO-RATA RIGHTS ISSUE AT $0.043 PER NEW SHARE
* PROPOSED RESTRUCTURE OF MSMCI'S US OPERATING SUBSIDIARY, MSM MUSIC INC
* MSMCI INTENDS TO RAISE, THROUGH ITS WHOLLY-OWNED US SUBSIDIARY MSM-US, BETWEEN US$3 MILLION AND US$5 MILLION