CLZ 0.00% 0.5¢ classic minerals ltd

Ann: Proposed issue of securities - CLZ, page-6

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    PLC I'm just guessing, but the $5 & $9 on the options possibly relate to an ajustment for options written before the consolidations. It just demonstrates how ridiculous & ill-equipped a share & option securities system is when coping with the derivative-type effect that these consolidations have on the share capital values. Just like existing holders' share numbers were nullified - it looks like they destroyed the exercise value of the options, but they exist until expiry - but their exercise price has been blown out by a factor of up to around 7500. these were probably exercisable at a few cents when they were written, but have been reduced in number with the consolidations as the exercise price has skyrocketed. They have made a complete mockery of the share capital system. One would need to go back to see when they were written, how many were written, and what effect the consolidation had on their exercise price and the number of them. I'm amazed they can get away with destroying shareholder & option holder values.
 
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