Exercise options, page-69

Dear Mr. Brombarb,

You may have a technical expertise in oil but surely not about options. However, I may be wrong. Lol.
I could give you many examples that option trading ceased one week before the expiry date. However, let me give you a real example of XPEOC (option of XPE). Hope you will have a good sleep tonight.

Extract from XPE announcement:
Exercisable at $0.04 and expiring on 18 January 2018.


The due date for payment of the exercise price is 5pm (AEDT) on 18 January 2018.

If payment is not received by 5pm (AEDT) on 18 January 2018, the options will lapse and all rights under the options will cease.

Official quotation of the options will cease on 12 January 2018.



Extract from full XPE announcement:

Xped Limited (ASX: XPE) (“Xped” or “the Company”) advises that the Company has been granted a waiver from ASX Listing Rule 6.24 to the extent necessary to permit the Company not to send the notices required by item 6.1 of Appendix 6A in relation to 593,674,408 quoted options (ASX: XPEOD) exercisable at $0.04 and expiring on 18 January 2018. Accordingly, option expiry notices will not be sent by the Company to option holders. The Company provides the following information in accordance with the Listing Rules and the waiver granted by the ASX:  The number of options to which this notice applies is 593,674,408.  On exercise, each option entitles the holder to receive one fully paid ordinary share in Xped. If all options were exercised 593,674,408 shares would be issued.  The exercise price of each option is $0.04.

 The due date for payment of the exercise price is 5pm (AEDT) on 18 January 2018.

 If payment is not received by 5pm (AEDT) on 18 January 2018, the options will lapse and all rights under the options will cease.

 Official quotation of the options will cease on 12 January 2018.

 The market price of fully paid ordinary shares in Atlas on 15 December 2017 (being the last trading day prior to the date of this notice) was $0.008.

 During the three months immediately preceding the date of this announcement, the highest market price of fully paid ordinary shares in Xped was $0.011 on 18 September 2017, and the lowest market price was $0.007 on 20 October 2017.