I believe they have the option to convert in-the-money options without paying cash.
Taking CG for example - He had 500,000 options with an exercise price of $0.40. If we use the 5 day VWAP of NVA of $0.89, these options are worth $0.89 - $0.40 (cost to exercise) = $0.49 each.
These options are then exchanged for shares using this option value of $0.49.
$0.49 x 500,000 = $245,000 (This is what CG’s 500,000 options are worth)
$245,000/$0.89 = 275,281 shares (This is how many shares $245,000 is able to buy)
I believe they have the option to convert in-the-money options...
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Last
19.0¢ |
Change
0.005(2.70%) |
Mkt cap ! $40.86M | |||
| Open | High | Low | Value | Volume |
| 18.5¢ | 19.0¢ | 18.0¢ | $28.92K | 157.0K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 4 | 191302 | 18.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 19.0¢ | 12858 | 2 |
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| Last trade - 16.10pm 25/06/2024 (20 minute delay) ? |
| NVA (ASX) Chart |