Ajjax, That is correct they become fully paid & are then equal to other ordinary shares. A little more complicated is the benifits they would have over options in the meantime, If the company has some kind of deal in the works & options aren't eligible, the partly paid may be able to be involved for 50%.of the offer because 50% of the share is paid up. This would need to be checked out.
Ann: EMU's Maiden Drilling Programme Confirms High-Grade Gold, page-91
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