The last announcement said in the option conditions they would be aiming to get them listed.
(a) Each New Option entitles the holder to subscribe for 1 Share upon exercise of the option and payment of the Exercise Price (defined below).
(b) Each New Option is exercisable at any time for a consideration of $0.20 per option payable in full on exercise of the option (Exercise Price).
(c) Each New Option automatically expires at 5.00 pm on 28 February 2017 (Expiry Date). (d) The Company will apply to the ASX Limited for Official Quotation of the New Options.
Options just traded for 5.2c If you hold the view that CXZ will be higher than 25c in the next few months, then the options are a great deal I would think.
You can buy them for 5.2c, exercise them immediately and have paid 25.2c for your CXZ shares (which today traded at 24c) and have effectively free options given to you excersisable at that same 25c price to see what happens over the next few years.
All this relies upon is the current SP staying at or above 25c into the future - thats the punt one needs to take.
CXZ Price at posting:
23.5¢ Sentiment: None Disclosure: Held
