Ann: Management Changes, page-56

The 2c strike price options will become 1.2c options.

At 1.6c it would be 0.8c theoretical ex-rights. But I think we may trade higher post capital return as punters will likely use some of the cash distributed to buy more shares on market, 1c perhaps.

Really though management have to get their act together and sell the rest of the assets and get that 2c+ for us. My concern now is they aren't genuine efforts as JJ could has an expectation gap, I.e. isn't prepared to sell it at a price someone will buy it for.

Looks very cheap to me at current prices. Hopefully the quarterly has a decent update and they have at least sold those PANR shares