y th rush?, page-9

re: agmo I assume that it is 31st dec 03 when the options expire(my NAB online is down at the moment)If (around the 31st)AGM was 20c & the options were all paid up to FPO status then there is no 'dilution' as the company get 20c in cash for each option. If you go to the ASX site there is a formula for working out what price the options 'should' be when the share price is 'whatever'. This is just a guide. I have never used it as the mkt ultimately has the last word.

1 option gives you the right but not the obligation to buy 1 share, it's all on the ASX site.