lol I wish 20c Woody .........lol .......yeah 2c my mistake
No they have to convert them which means they outlay the 2c per share to the company which then converts their options to a fully listed share which they can then trade on market.
If they never pay to convert them they are basically of no real value.
So in short they have to pay for them.
If they convert all 50 million it means a further $1,000,000 for the company but to be worthwhile to convert the unlisted options the SP must be over 2c otherwise its not worth it if you can buy shares on market for less than that.
Ann: Appendix 3B, page-16
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