Ann: Proposed issue of securities - PAA, page-17

I thought the same however that's when I made the assumption that they believe it will be worth more than that before 2023 otherwise nobody would take them up right?

and the options can be traded. Could look quite appealing before October 2023 when/if the share price is above 21c. Lets say they the SP is 40c, each of your options should (and I say should) be worth 20c+....nice 20 times turnaround on those.

If you have 100K options for example, that $1K is worth $20K. For me, taking that $1K risk is worth the punt. Every cent over 21c should represent an additional 1c on the option price. Every 1c is 100% increase. (of course that leverage % can start to diminish as October 2023 gets closer and closer)

I think I have that right. Someone please tell me if I haven't.

If the SP doesn't fly, then I haven't burned too many $. If it really flys I simply trade the option for an even bigger leveraged amount or I pick up shares at 20c extra. So for PAA the outlay is small for the SH but the reward could be big. And anyone who picks up the options from one of us can trade them on to the next buyer as well. The SP really needs to be heading north for any of this to benefit those of us who take them up. So you would want to see this move between now and the end of next year.

All speculative though of course......everyone will have their own risk levels to weigh up.