loyalty options ripper ann, page-7

I think this option issue will have a decent impact on the share price as it is not a bonus issue (which just dilutes) and $2.2m cash is being raised.

Think of it as a small placement in which everyone gets to participate.

My guess is these options trade at 12-14c out the gate (assuming a 21c share price) as they are going to be 6c in the money and ASX options always seem to price time value higher than standard black-scholes.

Its an excellent deal and I will be surprised if anyone fails to take it up!