What should a BNO share be worth ? probably around 1.7c or more. 180000 BNO at 1.3c = $2340 AUD = 1000 ADS@ $US2 = USD2000 = AUD $2980 so there is a current advantage of $640 in holding and using the conversion offer if the BNO price on the ASX does not further decline. DDD is quite correct in his observation but his sentiment surely should be to hold rather than sell against the possibility that the BNOX price on NASDAQ comes of its low and back to its long term average of about $USD 4 in the offer period. There is a clear case for ASIC intervention/questioning on this transaction and for local BNO holders to prevent it going ahead if possible.
BNO Price at posting:
1.3¢ Sentiment: Hold Disclosure: Held
