With all the recent postings I was just wanting to get my head around the basic facts of the new options offer.
- It would seem the general view is that the new 1 cent options are a givaway and too cheap.
- The number of new options you are entitled to is dependant upon the number of shares that you own before PEN goes ex entitlement on Friday 6th September.
- The offer closes on the 5th October. This is the date you need to have the money in to the company.
- The new options are listed and commence trading on Tuesday 12th October.
So in summary: You get one share for every four shares you own at the close of trade on Thursday. The new options have to be paid for by 5th October.
Is this correct or have I missed something?
option offer entitlement
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