For 708s to free carry, the 1st tranch their 100% sell would...

For 708s to free carry, the 1st tranch their 100% sell would need to be at $0.03 ie:[ 2.5 +( (3.5-2.5)/2)]

After that point, they will hold 1/2 as much as many rights..

But wait! There is more - the bonus round.

708's free carry by way of sale the sale of thier converted 1st Oppies to fund 2nd (bonus) tranch would need $0.05. But what's the point of that? It's selling at $0.05 to buy at $0.05..... So the SP needs to be well North of that.

Now that's in the rawest analysis as those figures do not take taxs ie. CGT @ margins or pro trading rates. So it is valid to assume a high viable SP to cover any tax commitments.

Under the placement terms, SP suppression won't be as significant as the usual CR 1:1 Oppie dump.

Off the cuff thinks in inks, I just blurted numbers, so a figures guy might want to fact check.