Thanks for the calculator but I think it needs to be changed to reflect the fact that the 2011 Options are only allotted once the "New Option"s are exercised. The number of the October 2008 Unlisted Options previously held does not affect the number of the "New Options" that can be applied for and the 2008 U/L option holders only get "priority" for any allottment from the shortfall.
In addition the number of 2011 Options to be allotted is 3 for 4, ie if you exercise 50000 "New Options" you get 37500 2011 Options.
What the letter/announcement does not make clear is whether the 2011 Options will be listed or unlisted.Perhaps that is in the Prospectus which I have yet to read.
I'm still making up my mind as to whether it is worthwhile subcribing for the "New Options".
Regards,
Terrya
RRS Price at posting:
3.6¢ Sentiment: Hold Disclosure: Held
