GLC just some FAQs from the announcement and the current state...

GLC just some FAQs from the announcement and the current state of play with NOV
NOVAH strike price was 23c and expired on 19th December

The holders of these options would have been making a decision to buy or let lapse approx. 1 month prior to expiry and with the issue of the RADI we all got very excited but management....not so.

One month prior to the expiry of the options, the NOV SP was 27c a tidy 17% discount just 2 weeks after the RADI announcement, and a 39% discount to the open of 32 c the day of the RADI announcement, I would be jumping all over the offer of 23c shares........management not so.

GLC take a look at the announcement on the 20th of December, i provide a clip below.
I am not 100% sure of the consideration term "cashless exercise facility" but it seems the shareholders generously paid for the 690,247 NOVAH options exercised by Alan Munday and held by Patricia Munday and the rest expired on the 19th December and the ASX was notified on the 29th December in a very quiet period. That is not confidence inspiring for an investor.

Politicians use this quiet period to put out bad tasting announcements, Novati has done the same. I am keeping my powder dry for now, if management think the SP will go lower who am I to disagree with them.