incredibly good rights issue.

Hi guys,

Yesterday BMG announced a 1 for 1 rights issue for options.

Cost per option $0.001 (basically free)
The excercise price is $0.20
The epiry date is March 2014
The current share price (pre-announcement) was $0.37

Doesn't this mean that you could buy in at close to the pre announcement price, get the 1 for 1 options then make a killing on the severely in the money options (60% return or so, i just scribbled some numbers down)?

I have shares already and just a bit unsure why these shares havent taken off this morning. Maybe people havent had their coffees.

Boz