who's going to subscribe?, page-30

DYOR of course but my take on the issue is...

As of Open 13th April BLT were quoted ex rights, meaning they have no rights attached.

If i bought BLT since Open 13th April, i don't get the rights & options on those shares.

I can however buy any amount of BLTRA on market as of 13th April, whether i hold BLT or not, and they essentially just become an option with a strike price of 2c

So as long as i hold BLTRA by Close 19th April (Record Date) either by way of being granted them for BLT i already held, or by buying them on market, i should be sent a Prospectus & offer to convert my rights(BLTRA) to shares (BLT) (with the attached options) for the 2c strike price.

This is why the Rights (BLTRA) are trading at approx 1c. 1c + 2c = 3c :-)

So if i had no BLT & wanted to get in via the rights issue then i would buy BLTRA before close today. But it would probably be easier for me and the same price to buy BLT ex-rights at the moment.

Again, DYOR do not take this as 100% correct, or advice. If you are not sure, talk to your broker.