well that's a massive slap in the face from both management & the ASX, appalling is the only word that comes to mind. Here is what CHK proposed 24/02 to its option holders
Proposed Issue of Options to CHKO Option Holders
"The Company also advises that the current CHKO options are on issue expire on 18 April 2020, with each option being exercisable at $0.018 (1.8 cents). The Board is conscious of the fact that a significant
portion of these option holders have been patient and loyal supporters of the Company for some time. The Company is therefore proposing to offer all CHKO option holders as at a record date to be confirmed with the opportunity to participate in a placement by applying for one (1) new option for every two (2) options held. Each option is proposed to have the same terms as the options proposed to be issued through the SPP (including the same expiry date) and with an issue price of $0.001 (0.1cents) per option. This issue of options would raise a further circa $200k for the Company (if fully subscribed). The Company will also seek to list this series of options (it being noted they are intended to have the same terms as options under the SPP)."
PSL Price at posting:
0.4¢ Sentiment: None Disclosure: Held
