Well if you were a client of IOC and they offered you 1 million VECO and you already owned 1 million VEC to maximise your exposure to VECO you may as well hold onto your shares until the ex-entitlement date and collect a further 500k VECO @$0.01.
The options entitlement deal was flagged in the disclosure document for both the general shareholders and IOC (back in November).
If any clients with IOC (who held shares) had a pre-arranged allocation they could have sold by now if they had wanted to. However, I don't know how IOC will allocate the options and I don't know how many of their clients bought shares through the issue (IOC nominees are not mentioned in the top 20 - it is all speculation really).
I definitely can't see a short-term sell off prior to the ex-date and envisage that the register will in fact remain fairly tight (unless the dow tanks again).
Looks good to me.
Cheers SBC
VEC Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
