Ann: Option Conversion Reminder, page-4

I bought these when they announced the option. Got the option entitlement, sold the stock for a profit, kept the free option, though I have exercised half of the options to get the next free option and collect the dividend. I keep banging on but you have to trade these things. You can buy MA1 now below the NTA and get close to NTA if it ever become an ETF, you can buy NSC at a huge discount. Most of thhe LICs with buybacks on will ensure you dont lose any capital as they put a floor in the price.