any late thoughts, page-4

I may be wrong but I think the options will be the best value. The release, (and we will have to wait for the prospectus), factors in a 100% take up of the options conversion. It doesn't state that they have to be coverted. Therefore if options are held and not converted they can still be utilized to buy shares at 10c up until they expire.

I think that Swiftel doesn't really want a 100% take up of the offer because that will then require a capital raising at 20c. I think one would need to be pretty niave to assume that they haven't already got an investor sitting in the wings ready to buy at that price.

Given the growth potential of the new entity the options, if held and not converted, will be very valuable, that is if I am correct about the non compulsary conversion.