options, page-4

In theory you are probably correct.

The exercise price is NZ$ 1.50

NZO has hit that share price level today on the NZX and therefore at the moment the Options have theoretically come into play.

Obviously the more the head share price moves above the NZ$ 1.50 level the more attractive it becomes to exchange your Options at the exercise price of NZ$ 1.50 to get a full NZOG head share.

Even at a head share price of NZ$ 1.55 it could become attractive if you have a swag of them. No brokerage to pay on exercise.

At NZ$ 1.60, or 1.65, or 1.70 you would be wishing you had a whole swag more.