Hi Jdbj I have a go at explaining it but some may do it better....

Hi Jdbj

I have a go at explaining it but some may do it better. I'll keep it basic!

3B notices notify the stockmarket that a shareholder has exercised some 'options' they own. In this case they have converted the options (74,770) to full blown shares.
For instance OBJOA is an 'option' which you can buy on the market or may of received it through a share placement by the company. You may say for example buy these options for 1 cent and have a 2 year period to exercise the option, with that option being for example 5 cents.

Today I buy 5000 options in Company A for 1 cent and can exercise these options in the next 2 years for an additional cost of 5 cents. Cost for me $50.

In 18 months the company is sitting at 20 cents, which means if I convert my options for 5cents to full blown shares at a cost of $250 (5000 times 5 cents), my shares are now worth $1000. So your initial $50 investment, plus the right to exercise the option of $250, puts you $700 up.

On the flip side if the share price was 3 cents, one would not exercise the option as you would be at a loss. Hence you will see notices come out from the ASX when companies expiry dates on options are not taken up.

So it is another way of playing the market, with little cost and you have the option to exercise or not....

In OBJ context, the 3Bs for OBJOA will be coming through thick and fast as Dec 14 approaches as these will expire in Dec 14. People are in the money with OBJOA who received these as part of an offer a year or so back as share holders will be cashing in with a ching ching ching..... as the exercise right is only 1 cent and these options were purchased for 1.5 cents from memory!