re: Ann: Non-Renounceable Option Entitlement ... Doesn't matter what SP is at present PENOA converts at 3c any time before 30JUNE 2012
So to convert 1M PENOA's will cost $30K
plus $2.5K more to take up options (if you only apply for your 250K entitlement no extra)
Other option Just buy a couple of thousand PEN before cut off date and apply for extra with that - no guarenteees what amount you'll get if fully subscribed, I personally doubt it will be.
Ann: Non-Renounceable Option Entitlement Issue , page-38
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