While this is nice to get something for free; the options have a value of about 13 cent in my opinion and at the rate of 1 for 20 shares we each will get a gift of about 0.7 cents.
I hope that the issue excites some investors who will buy more St George shares in order to get allocated the free options.
On the other hand it will be great for St George when they are taken up at 25 cents.
St George will get a cash injection of about $3m.
Ann: Bonus Issue of Private Series Options to Shareholders, page-6
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