BHD 0.00% 23.0¢ benjamin hornigold limited

Paying 20c for the option when the SP will be 97c on day 1...

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    Paying 20c for the option when the SP will be 97c on day 1 risky.

    You really only get the possibility of 1 year of appreciation with the option before you need to cash out due to the special once off dividend which I assume will be paid out like HML did. (Also assuming BHD is up)

    The 1:1 dilution limits the options upside potential especially at 20c.
 
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