OK I wanted to get clear on this whole process after the option...

OK I wanted to get clear on this whole process after the option exercise notice yesterday...

I spoke to Cluff and (only) asked who looks after the share registry - it is Registeries Ltd - Cluff gave me their number...

I spoke to Registries and asked - when exercising options what time frames are involved before I as the option holder can actually trade the alotted shares.

Registries says they receive the form from the option holder with a cheque - they clear the cheque then request approval from Cluff - when it is a one off exercise like yesterday then the turn-around is about 3 days - then Registries proceeds with getting the notice of the exercise transmitted to the ASX - about the same time they send a CHESS message to the option holder's broker (like eTrade or Commsec), who in turn convert the options to shares in the holder's account.

In short, I was told by Registries that for options exercised one-off like yesterday the turn-around takes on average about 5 working days before the new shares are recognised and able to be traded.

When the process involves an exercise enmass - like just before the final date to exercise a whole bundle of options - Registries will normally accumulate a big wad of exercised options before requesting Cluff's OK to process them - which means CHESS recognition takes longer, therefore the shares don't get alotted for trading for maybe 5 to 10 working days, depending how many exercise at the same time.

Therefore we can pretty well say that yesterday's option exercise won't result in shares able to be traded until about Friday, maybe Monday, assuming Registries follows the usual procedure they explained to me.

Now IMO this could possibly mean that a good and kind employer like Cluff will wait for their employees' shares to show up in their respective accounts before releasing the India announcement, just to give their employees an opportunity to trade one way or the other.

So ladies and germs we may be looking at end of week, perhaps Monday for the annc.