Ann: Despatch of Pro-rata Rights Issue Offer Documents, page-2

So basically Bension holding introduce CHK for the Cobalt X deal and seems the acquisition is a Done deal so the 80m unlisted option issued in liu of Cash which Bension would not Do the deal Free for CHK so CHK and Cobalt X both will benefit only if the deal go ahead....

Therefore, DD will be done successfully and Bension got 80m option (unlisted) so 2 options for Bension to convert those 80m option to Real Money:

Convert to head when SP are lots of higher than 1.8c and sold for nice profits..

Or

Wait for all option listed and sold on market...... (In this way, only the head price higher than option price, there will be demand for option, so it means head should be higher than 1.8c for someone put in buy order for option, normally there will lagging for option to head, so it could be 2.1 or 2.2c for head to attract people put buy price of 0.1c for option.....

Imo, to convert option to head and sold on market is the logically way for Bension to pursue nice profits and offload 80m units, so there should be huge turnover some time later with substantial sp appreciation to provide Enough liquidity for many to buy and sell....

Plus: even there is dilution but still a lot less than many juniors (given we only 234m SOI now) and CHK will put millions Cash into bank so less CR.....Good actually because 1.8c is the big rock bottom)

Guys, think wisely and CHK will have a nice run in the near futures and whoever sold to 1.8c for whatever reasons would very likely miss out big run.....

I am buying more and wait patiently.