Loyalty Options

Wrote to Ardea last night and quite surprised to get a response from the MD, Mr Painter.
I was asking if they could confirm if the loyalty options applied to those who have purchased on market.

Here is his reply
"The term “in specie” defines the method of the distribution of shares to Heron shareholders. In this case, 1 Ardea share was distributed to Heron shareholders for each 10 Heron shares that they held at a specified date. Ardea will always look for opportunities to spin out suitable projects into new companies and has stated that an in specie distribution would be the preferred method. Ardea’s board sees this method as a good way for shareholders to fully benefit from any corporate deals, with shareholders able to determine whether they stay in the new company or sell their shares for immediate financial benefit.

The loyalty option distribution will apply to all shareholders at the 3 month date, whether they received them in specie or purchased them on market."


Very interesting bit there in the middle, wouldn't you say.
Are we going to find Ardea spinning out even more projects? With more loyalty options then to come in them?
Holy multiplying-like-rabbits share portfolio....