Hmmm... huh? exercise (OTM) 'out-of-the-money' ???
You would only ever 'exercise' (ITM) ... IN THE MONEY ... ATM or OTM expire worthless ...
For Warrants ... a failure to exercise (ITM) at expiry is completed automatically ... and those holding warrants are entitled to an amount equal to 95% of value at expiry ...
Others may be more definitive on this ...
This is only my view ... read the red stuff.
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- ASX - General
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exercise warrant?, page-2
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