To anyone who things oppies holders are being screwed, options are still a much better leverage play. Why worry about missing out on a 2 for 1 rights issue when there are still 4 years to run on the options? If you are considering taking up the offer, why not just buy more options? There are plenty of them available.
Lets say, for example, NMS hits $1 in 3 years time. If you took the rights offer at 20 cents, you have made 400% on your investment. If you used that money instead to buy options at, say, 10 cents (I know they are cheaper at the moment, but let's make it easy for the maths) then if the shares hit $1 in 3 years, that makes the options 80 cents, and you've made 700% on your investment.
Of course there is always the risk that the options won't be in the money, but given they have 4 years to run, given the capital that has just been injected into the company and given the management they now have, I very much doubt that will be the case. Options MUCH better at this stage IMO. You then have 4 years to save the money to exercise them.
NMS Price at posting:
0.0¢ Sentiment: Buy Disclosure: Not Held
