Hello Wilbur and Grizzle. The share offer will not affect...

Hello Wilbur and Grizzle.
The share offer will not affect options, they remain until May 31, 2018. I'm not sure options if there is a take-over. I'm new at this too. One danger could be that if there is a conglomerate forming which now has 35%, as Niclou found out from the CEO, they too have options. If they exercise them quickly then that would add approximately 30% (1 for 3) to their stake and be awfully close to 51%. Keep in mind, management only controls less than 15% of the shares. That's what makes the company vulnerable. We are probably a billion dollar company according to fundamentals, that can be bought for $20,000,000 if you already have 35%.

There is another significant benefit with the SPP. Heron is offering shares to existing holders up to $15,000. Each entity can only claim one allocation of shares, unless they can demonstrate they are holding those shares in trust for a third party. So a SPP for Ardea at this stage could flush out who our secretive buyers are. If, for instance, Instinet or Merryl Lynch represents multiple individuals, we will soon know. If they are held be a handful of shelf companies, we will also know that, if they want to claim their bonus shares. So this may be a very shrewd move by management, but can't be certain from where I sit. One thing is for certain, we have a very valuable suite of resources, and we would be fools to think that some big boys are not trying to muscle in.
DYOR
BE