General Comments / Chat, page-10674

Dr T @Davisite,

When you say unsolicited bids, do you mean others have actually offered to buy the unexercised bonus options? Is this even possible under ASX rules, considering they were issued free? If this is the case, my preference is for RAC to sell the leftover bonus options to the highest bidder, irrespective of their loyalty.

An even better idea (if allowed under ASX rules), RAC keeps the unwanted options, exercise them for 75c and then cancels the shares reducing shares on issue (or even sells them on market for a huge profit adding to your clinical and preclinical kitty). Plus RAC will holder the piggies (currently in the money). Over the next two years those piggies will become more and more value.

Last question: if bonus option exercised is over the target of 75% but less than 100%, is RAC planning to reallocate the remaining options or let them expire as $ target is already met, to minimise dilution.