FAS is a good example. What we can take from that is : (a) VILO must expire first (b) Shareholders must approve the issue (c) A prospectus must be issued (d) FAS fully paid were also entitled, so VIL would be too. Probably to ensure a YES vote? (e)In FAS case FASO was EX 25c @ Aug 2009(FAS 4c at that time), ie hopelessly out of the money like VILO.
The "new" FASOA was issued at 0.1c and had ex of 10c and expirey of August 2011. Seems reasonable, but still way out of the money. They are currently in the money with FAS@11c, so if you held you made out well and still have time to run.
In fact that 0.1c is currently worth 3.1c, lucky buggers.
VIL Price at posting:
2.8¢ Sentiment: Hold Disclosure: Held
