$1.00 On The Horizon, page-693

Hi Wazza As I see it . The both series of options were granted as an incentive to take up New Shares in the credit raisings. My thoughts are that the buyers who took up shares in the credit raisings would be the main holders of the options and with the current discounts those holders will take up their entitlements and are maybe buying more. The reasons that these options are at a discount to the share price I believe is because the recent solid rises in the share price is due to the interest shown by Overseas Investors who are only interested in buying and locking away these shares. I expect this interest in the shares to continue and the holders of these options to BENEFIT From This Discount. I understand that when a companies M/C is valued that do include options on issue into these figures Cheers Towie DYOR