Ann: Notice of General Meeting and Prospectus , page-20

yes Hobo your are right and I starting to think the only way as a large ARDO holding to get out without a major loss is to hope ARD do run before ex date to even 23c-24c in which many ARDO will be exercised I might exercise mine It really also depends on USN SP maybe they will annouce great USA/CAn drill results an their SP goes 20c++
we could well see the distrubuation deluted on the back of so many ARDO being exercised
If the above doesn't happen and say worst case ARD hold current levels 18c to ex.date and also USN goes no-where or even down 14-15c ARDO are re-priced 17.5c March there isn't going be much at all time value in the ARDO ex june 30th and we ARDO's holders might watch are opts expire worthless as the head share price stays below 17.5c.....
overall ARDO is a tricky play