Shareholders may think there is value in selling at 13.5c with the intention to raise capital to be put towards the 14c ssp which includes the 3 for 2 oppies. Would you value a 21cent option expiring on 30 June 2025 at 3/4 of a cent? with $50k max limit I can understand some share holders swapping at 13.5c for the options. Add in a tax loss on the 13.5c and it may be quite attractive.
Ann: Investor Presentation- Equity Raising May 2023, page-9
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