Actually, it is 1 for 8 for anyone who holds as of 30 May. You didn't need to participate in the last cap raise.
It is a bonus issue for existing shareholders to reward their support. Options at 3c, excisable up until 30 Nov 22. They hope to get them listed so you can trade them if you don't want to excise them and still get some sort of reward. Only 6 months duration.
BLG must be expecting SP appreciation due to coming announcements (product launch and samples). Then again, look at the risks outlined in the documentation.
If the options do get excised, they will get some cash to top up what they will be getting when they place the remaining shortfall from the FAB raise. This may be the last time to pick up shares in the 3s.
2cents.
BLG Price at posting:
2.9¢ Sentiment: Buy Disclosure: Held
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