So, MLS has sought relief from ASX on sending out Option call notices as fp share price is so low & options are way 'out of the money'. I can't remember this happening before, although the ASX seems to have the mechanism in place.
& instead of being advised that no Option call notice is to be sent out, some Optionholders were hoping that they would be advised that MLS would be re-issuing the options (presumably at a token price & presumably offered to fp shareholdereing as well - as has been done by other companies). These new Options in place of the Options that looked to be worthwhile until the tenement fiasco surfaced in May, 2008.
Whilst MLS won't post out call notices now (would there be 500?), they reckon that they will post them out if the fp share price hits 3.75c by September 30th. Be messy if a favourable Namibian High Court decision is handed down near the end of the month.
But perhaps MLS doesn't antipicate a decision any time soon.
& perhaps MLS does expect a decision within the month - but an unfavourable one .....
Col8
MLS Price at posting:
1.6¢ Sentiment: None Disclosure: Held
