Yes they have been issued therefore the expiry date. The Prospectus states "each New Option will expire at 5:00pm (AEST) on the date which is 12 months after the date of issue (Expiry Date)". According to the draft timetable (which has not been amended) the options were due to be issued on 3 August and commence trading on 4 August. I suspect the problem with trying to trade or exercise them, off market is that no stock numbers have been issued. I also don't think that those who applied for them are sure as to how many they have been allotted. Also at a base cost of $0.005 and $0.10 exercise price conversion at this stage is probably off the table. One wonders that from a continuous disclosure point of view, given the timetable has changed, whether an announcement is due?
KAI Price at posting:
4.6¢ Sentiment: None Disclosure: Held
