Ann: Appendix 3B - Exercise of Options, page-15

Some serious action on the options happening

Price is rock bottom at $0.001 - $0.002 with some huge orders (10-20m options) at $0.001

Wonder who this is at this price?

You would think someone with deep pockets could:
- snap up the options at ~$0.002
- buy the share at $1.10
- collect the dividend at $0.02 (immediate profit on the options)
- wait for share price to match NTA (currently ~5-6c discount on that)
- trick is the funding cost on the $1.10 needs to be less than the appreciation in the price (arguably it should recover in 2-3mths at most and should like WAM, appreciate more than the 5-6% discount)

Key issue is the deep pockets and time needed for share price to recover to at least NTA