There are loyalty options to be decided. I can only assume they are issued to existing s/h.
New options exercise date is 30/9/2008 at 25c. Pretty soon I thought. They must be confidence of the SP doing well straight after consolidation.
Only 12.6m shares on offer. Not a lot of shares I thought. May see some unsatisfied demand.
The problem is, unless there is a major announcement, who would pay 1.7c for a share now or a total of 28.9c for 17 shares when one can wait and subscribe for a new share at 20c with a free attaching options. The loyalty options must be attractive enough to keep the SP at 1.7c.
Meanwhile the SP will wobble until the loyalty options are finalised.
vote no, page-28
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