Ann: Bonus Issue Prospectus-LIT.AX, page-157

not quite, what they have said is they will look to list the partials once the current LITCC partials are all paid up. On the current call cycle of LITCC that will be Nov this year. However many LITCC holders (including myself) have fully paid LITCC to the point where there are only roughly 4mill LITCC left. If these are paid up then the way is open to list the new partials before Nov this year. If they list the new partials for arguments sake in July this year before they have made a call on the new partials, they will have a market value based on the current value on LIT.

For example if you get 50,000 bonus partials
If they list for example in July
If the LIT share price is 30c
Then your partial paids will be worth something like 4-5cents.

So you could sell your 50,000 partials for 4-5c before a call is made on them.

Another scenario, if they list the partials in Nov
and they made one call of 5c on the partials you would need to pay $2,500 (note for LITCC they gave guidance on the call cycle to help holders plan for the call)

If LIT was at 30c then the partials would be worth roughly 10c per share.

I think that is all pretty correct..