can we sell now and keep cheap, page-4

From similar issues in the past the only criteria is that you were registered as at COB on census date, so you had to have bought three days before ex-date. You can sell the next day - ie two days before census date and this should not effect your entitlement.

You needed to have owned shares at close of business on Friday, and can sell them first thing Tuesday morning and you will maintain your entitlement.

I Expect to see a price drop Tuesday AM as those in just for the SPP sell out, that may well see the heads fall below distribution price of 6c. This is a pretty attractive SPP - a 6c share that has been trading over 8c for some time plus an option that will probably trade at about 1c-2c = 9-10c value for 6c.

I'm seriously considering liquidating my heads and pouring it into options for better leverage when the options hit the market. The SP is likely to fall again post distribution as this is a heavily traded stock and short-term traders will be selling out their SPP.

Lucky thing is that the volume of shares being distibuted is below many days trade volumes for PEN so should be locked up fairly quickly.

The other thing of course is possible good news released to co-inside with this date to support the SP.

PEN is getting very frustrating after a promising rise in SP through late last year followed by six months stagnation. They are really dragging their heels with exploration work and the U bubble seems to have lost some of it's gloss during this time.

Maybe we need the U price to hit $US200 to liven up PEN.