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No B4, exercise price is not 12c, don't you remember that...

  1. pj
    2,090 Posts.
    No B4, exercise price is not 12c, don't you remember that infamous 7.5c sale at a slight discount to the market? It never was clear to me whether the 7.5c sale was included in the VWAP but in any event I can (also from memory) assure you that the calculation was more like 7.7c x 130/100 = 10c.

    I particularly remember that as I thought at the time the end of June 5 day VWAP was almost contrived to allow a nice round easy to remember 10c exercise price

    pj
 
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