letter to option holders

What a great deal!

Pay 30 cents to be entitled to buy a CNN share for 1.5 cents.

Convert options at 10 cents each into shares and then be entitled to 1 CNN at 1.5 cents for every 3 shares you convert.

Seriously, who in their right mind would do that or is it an ASX rule that they have to inform option holders .

On another note the options expire next june and does not look that they will be in the money unless there is a huge turnaround. My guess is that they will lapse , another waste of money for those who participated in keeping them alive twice.

cheers