$15m cap raise Fresh Equities at 24c, page-508

My reply function is not working - but in reply to dalts66 post earlier:

I respect you defending your friend, but for reference, Itsagas wrote earlier in the thread (in response to a post questioning whether it was better to buy in the market at 22c or take up the entitlement offer with options at 24c):

you forgot to add value of the options..
The package of 24c plus 1/2 options is 36c
24 c ord share
1 opt is 12c= 36 c

its a great deal for exist and new shareholders$$

I don't see any reference in that post to average cost if you exercised the options some time in the future with the share price above 48c. In fact if the package cost 36c (later amended to 32c), then buying at 22c in the market and ignoring the EO would be the message, but that wasn't the message. The message was that the package had 36c (32c) of value when you took the options value into account. This was an error imo and misleading.

And trying to value an option (or some approximation of value), no matter how challenging, is the only way of comparing buying shares at 22c in the market vs the EO deal of shares + options at 24c.