what this is, is an attempt to list the options given in the last capital raise, making them a tradeable security.. the last capital raise done by management did not comply , ( to allow the options given with the share purchase to be listed.), so it looks like LIT have found a way around it. I think if ASX knocks this back there will be a few unhappy punters. They in turn will not be able to profit on LIT's largesse and would have to wait for a 10 cent share price before their options are 'in the money'
Interesting that this ANN makes no mention of the purchase price of the option, probably have to get an application form to get the price. although I recall a settlement figure for Thick mentioned.
Like most LIT:ANNS all fluff no facts. and a desperate action to keep current key funding parties happy.
These sorts of 'shenanigans' really shows the ASX up in a poor light.
The ANN heading should be.....'How to Sell Share Options without ASX listing'
LIT Price at posting:
5.3¢ Sentiment: Sell Disclosure: Not Held
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