you get 3 (free) options for every 2 shares bought in the SPP
the options are 'exercisable' at 25 cents
exercising the options means you pay 25 cents to convert an option into an ordinary share
the options you can hold until the company is taken over (if and when)
for example, 75 cent takeover offer would allow to you pay 25 cents to exercise your option and you would make a 50 cent profit on your 25 cents paid
or you can sell the option on market
for example, if the share price reaches 30 cents then option will trade for 5 to 10 cents
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the options will also be listed on the market so we can buy options on market
but if the ELM share price does not exceed 25 cents by the time the options expire, they will expire worthless
expiry date is within 15 months from issue
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