I believe there is a typo error in the please explain. As I understand it, BPOO options expire in Dec 2013, and not Dec 2011, as intimated by the ASX query to BPO.
The way I read it if the conversion happens after 2013 then they will issue new options at 3 cents which must be converted to BPO shares within 24 months of 2013.
Am I missing something?
