oppies, page-104

Phoenix....

If there is a CR before June (I think probably not) then if they offer something based on fully paid shares, it will not apply to options.

So, lets say they offer an entitlement something like 1 share at 5 cents for every fully paid share with an attaching free option (last CR was like this but 1 cent with a free option)..........

This would not apply to options so you would miss out if you held options at the cut off time for entitlement.

What that means if you buy options is you need to check every day for announcements so you know as soon as they issue it.

It will usually have a cut off date for entitlement about a week after the announcement.
That means you will usually have a week to convert your options to fully paid and take up the offer.

I have only options now so I will watch like a hawk.
I may even convert to fully paid well before June.

Make sure you read announcements daily and make sure you have access to cash.
Otherwise when the announcement is made, sell your options and buy Fully paid shares.
You may drop a little on the changeover but the whole point of options is...

You think the price will rise and you want more exposure to that rise.
So, if you have been successful then the changeover should not be too painful.

Hope that helps ....