BRK (ASX) BRKOB Options Allocation

Originally posted by oddball144: ↑

Greetings all,
I am posting this new thread to elicit the experiences of other BRK options/shareholders who applied for the new BRKOB series in August this year when the company announced they would issue 300M new options (BRKOB) at 0.001 with a strike price of 0.011 expiring June 2022.
I'm interested to know if anyone received their full allocation as requested or what your scale back was if you applied for more than 1M new options.
Here is my story.
I bought a holding of ~20M of the original Dec 2018, 2 cent options in 2018 at a cost of~ $30,000 purely as a speculative play although I managed to trade in and out for some profit reducing my overall outlay.
Obviously I did my dough on those as it never got back near 2 cents after briefly trading above that price during the year.
I was therefore happy to take up the companies offer of the new Dec 2020, 3 cent options late in 2018 for 0.0006 and because they were supposedly wanting to "reward loyal shareholders", I received nearly my full allocation and ended up with ~9.5M of these new options. I noticed in a subsequent company release that this holding placed me in the Top10 option holders in 2019.
Okay so far. Like many long suffering shareholders ( I own a big chunk of the underlying also...) I thought maybe the Jewel announcement would be forthcoming and propel the share price higher before Dec 2020 but of course Covid and a collapsing oil price put paid to any hope of hitting the the 2 cent level again, let alone the 3 cent strike price. The options did trade at 0.002 and 0.003 so I had my opportunity to sell them and recover some of the capital sunk into the 2018 options but here we are in Dec 2020 and I still own them...my bad.
So come August this year, I took up and received my free BRKOB options when I participated in and paid for my entitlement of new shares at 0.005 on a one-for-three basis.
I also applied for 10M new options out of the 300M they were issuing and sent off my payment of $10,000, figuring they would again "look after existing holders". Of course then the company went and issued new options as compensation to their creditors and to management necessitating a three month delay in listing these new options so they could receive shareholder approval which was pretty annoying to start with but hey, they finally came back on the market last week.
During that time the share price rallied over 50% and the BRKOB's have been as high as 0.003 bid, a nice increase of 200% from the issue price.
Congratulations on receiving your 25M free options at last weeks meeting David Prentice.
personally, I was scaled back from 10M to 1M that finally went into my trading account last week and received $9000 back in lieu of options I could trade...
Thanks a lot for looking after us on this one....
I will be very interested to see the Top 20 options holders list again sometime.
If anyone has access to this now they are trading again, please let me know before I write to the company expressing my displeasure.
I don't mind losing money in the market when I get it wrong as has clearly been the case on my original investment, but it sticks in my throat to think that someone else has benefited at my expense because my 9M options that I expected to receive found a home with some other "lucky" player.
If anyone has a similar story, please do share or if you have any insight into how these sort of allocations are distributed in normal capital raises, I'm sure we could all benefit from the knowledge next time....
Perhaps I should have applied for 100M options and paid my hundred grand! Then maybe I would have got my 10M options...
Is it Automic who decides the allocations or is that a company decision?
Anyone else experience a 90% scale back from their paid for application of BRKOB's?
Or perhaps I am the victim of a clerical error...yeah, that's probably it right?
Thanks guys and gals...
Let's hope for better things to come in 2021.
Cheers.

Expand

Quite frankly it has left a very stale taste, I think this week i will start selling down my heads (sorry in advance). IMO the company seems to be running to greatly benefit a few at the expense of the retail holders.

The company has great prospects but I feel like even with my decent holding if the company had a win there would be something that would still reduce my % such as another cap raise to sofisticated/management.

They win i quit...

No.	Vol.	Price($)
39	31502608	0.9¢

No.

Vol.

Price($)

31502608

0.9¢

Price($)	Vol.	No.
1.0¢	2080067	9

Price($)

Vol.

No.

1.0¢

2080067

No.	Vol.	Price($)
36	29446720	0.009
16	3687698	0.008
4	2510000	0.007
4	6995000	0.006
4	2508000	0.005

No.

Vol.

Price($)

29446720

0.009

3687698

0.008

2510000

0.007

6995000

0.006

2508000

0.005

Price($)	Vol.	No.
0.010	2080067	9
0.011	44142582	33
0.012	13569609	19
0.013	20316703	18
0.014	11877951	15

Price($)

Vol.

No.

0.010

2080067

0.011

44142582

0.012

13569609

0.013

20316703

0.014

11877951

(20min delay)
Last 1.0¢		Change 0.000(0.00%)		Mkt cap ! $47.72M

Open	High	Low	Value	Volume
1.0¢	1.0¢	1.0¢	$39.29K	3.932M

BRKOB Options Allocation, page-6

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