MN, I've been trying to figure out if there is a strategy here. Why is there no support to keep the SP in the mid 20s to ensure a 100% option exercise before 31 March?
My understanding is that there is no ability for the company to "place" any shares attached to unexercised options. That would have been possible if some sort of underwriting agreement had been approved by shareholders, but I can find no record of that. So the idea that there could be blocks of 20c shares placed into friendly hands from the unexercised options appears to not be possible.
There are a lot of 10c options on issue. If I was holding heaps of those, maybe I wouldn't be too fussed about the 20c oppies not being exercised. Maybe I would be happy to see some large holders unable to exit their positions or fund the exercise. Less dilution?
Just rambling here, but interested in other thoughts about why there is simply no current support for this stock .
EXE Price at posting:
21.0¢ Sentiment: Hold Disclosure: Held
