10c capital return but NO opies, page-6

Gday MakinMoney,

This from Apr26 ann:
"Resolute announced on 9 April 2002 that they will propose to shareholders a return of capital of 10 cents per share or $15.3 million. Subject to this capital return being approved by shareholders, it is also proposed that there be a bonus option issue of 1 option for every 3 Resolute shares held on the record date.".....

"The bonus option issue puts in place a mechanism for a future capital raising with each option having the right to subscribe for one Resolute share for 80 cents cash within three years of the option issue date."......

"The shareholders meeting will be held at 10.00am on Thursday, 30 May 2002 at Level 8, Exchange Plaza, 2 The Esplanade, Perth WA. If shareholders approve this proposal at the shareholders meeting, the record date to determine entitlements to the return of capital and
bonus option issue will be 6 June 2002. Resolute shares will trade "ex" from the commencement of trade on 31 May 2002."

In answer to your question, the option issue will happen (subject to shareholder approval) and the options will be exerciseable up to 6 June 2005. Given the recent strategic alliances, I will accumulate these options beyond my entitlement as opportunities present. Based on cuurent RSG price, I would expect the oppies to tarde at ~50.

Cheers, Nick