Hi guys,
Yesterday BMG announced a 1 for 1 rights issue for options.
Cost per option $0.001 (basically free)
The excercise price is $0.20
The epiry date is March 2014
The current share price (pre-announcement) was $0.37
Doesn't this mean that you could buy in at close to the pre announcement price, get the 1 for 1 options then make a killing on the severely in the money options (60% return or so, i just scribbled some numbers down)?
I have shares already and just a bit unsure why these shares havent taken off this morning. Maybe people havent had their coffees.
Boz
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