Yes then you have to sell both the options for both scenarios...
Option 1 therefore...you have two shares for 20 cents
Option 2 therefore...you have two shares for 21.5 cents
Obviously both options have to be sold to end up with fair playing field.
Buying on market now is better by 0.75 cents per share...goodness me!
No value in taking up the rights issue is there...try and work it out...on market at 10 cents per share wins easy.
$750 better off in case of 100,000 shares.
Ann: Invictus Energy Entitlement Rights Offer Opens, page-135
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