A note about the options (PCLO) as there might be some confusion - these are exercisable at 1.2c on or before 8 August. That is, an option holder can convert their options on or before that date to ordinary PCL shares. When converted, they need to cough up 1.2c per share to the company. Therefore, the options are really only of value if 1) the option holder sells them (PCLO) on market prior to 8 August or 2) the market price of the ordinary PCL shares is above 1.2c. In the case of the latter, in theory, the holder has ordinary shares which cost them 1.2c when the options were exercised (plus what they paid for the options), then sells the ordinary shares on market at the higher price and pockets the difference.
If the option holder does not exercise by 8 August, the options then lapse and the holder comes out with nothing. The company is also affected by not receiving those funds from investors when converting the options to ordinary shares. Option holders will not exercise if the ordinary share price is under 1.2c. For, why convert and pay 1.2c per ordinary share when one could simply purchase ordinary shares on market at a lower price?
It is therefore relevant for option holders, as well as important for the company's bank balance (extra ~$5,910,600 if all options exercised), to have the SP higher than 1.2c leading up to 8 August.
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