BHD, page-14

For me the option overhang isn't that large a drama....they have three years to make some cash, and if she runs true to HML form , options may be converted early for dividends etc......

So if BHD falls considerably and BHDO's stag , i may be tempted to sell options and buy more cheap BHD's, averaging down and taking the BHDO's out of the equation to some extent. Yep , I tie up cash for a little while , but that's cool if BHD is bumping the issue price (Tradeable with average down )......

Still wouldn't be surprised to see BHD stag at some stage.......Would expect a bit of publicity from the co at some stage before listing ....a nice pirate porno maybe ?

Guess we'll see how the prices fall on the day......