Calcrisktaker, Good point ... that's the other main reason why I...

Calcrisktaker,

Good point ... that's the other main reason why I decided not to sell any LOMOB (I had forgotten) ... and obviously would not want to sell any LOM or LOMAO, just in case ... hence back to what I said I am doing, easier to borrow and exercise LOMOB in April.

Please also note that when LOMOB options are exercised, these are the considered to be a new asset by the ATO and hence the 12 month discount starts again from this date. In other words, to get 50% CGT discount on LOM shares from LOMOB exercised, you will need to hold onto these and sell after April 2017 (Based on current Legislation ... as I understand ATO is reviewing the tax system and Tax payable on Capital Gains is also on the table).

At one stage I did produce a worksheet regarding how many LOMOB would need to be sold to exercise the remaining LOMOB ... and you will find that the number of LOMOB required to be sold will be less as the LOMOB get higher (obviously). Your calculation was based on LOMOB being sold at $0.30 ... for example, if you could sell LOMOB for $1.00 each, you would only need to sell approximately 23.125% of your holding ... and could hold onto and exercise the other 768,750 LOMOB Options.

Thanks for highlighting Tax Implications of selling LOMOB for those that were considering this option.

Zippy1