options.. post merger, page-6

I can't see what the fuss is about:
I hold 4 million options, lets say paid 6c for them. (each).
These options at the moment can be converted to shares at 10c, anytime up to 03/2005.
OR PRIOR to merger I can convert 2 oppies for 1 share.
OR I can hold them, ( and I can't see any listing rules that say they need to be redeemable at 20c, the company when they go to the merger vote may ask for this,)
Which ever way you want to look at it, given the option time frame, 4.5c is cheap, 5c is cheap, and even 6c is cheap for the options, if you have taken the veiw that between now and march 2005 the SP will rise.
If you don't think it will rise then sell your options. Which I guess a few small players have done.

Just my thoughts, without going tinto TA etc, etc, etc.