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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2007
NOTE 18: ISSUED CAPITAL (CONT’D)
Terms of the options on issue as at 30 June 2007 are:
— 20,000,000 unlisted options are exercisable at 25 cents on or before 30 June 2009.
— 20,000,000 unlisted options are exercisable at 30 cents on or before 30 June 2008.
— 5,000,000 unlisted options are exercisable at 40 cents on or before 28 August 2011.
— 1,000,000 unlisted options are exercisable at 70 cents on or before 14 November 2011.
— 1,500,000 unlisted options are exercisable at 50 cents on or before 30 June 2009.
— 3,000,000 unlisted options are exercisable at 60 cents on or before 28 February 2009.
— 1,500,000 unlisted options are exercisable at $1.00 on or before 16 June 2011 and are subject to the following conditions:
- 33% of these $1 options cannot be exercised before 1 June 2008; and
- 33% of these $1 options cannot be exercised before 1 June 2009.
All of the $1 options become exercisable if a takeover bid is made for all of the fully paid ordinary shares of the company, or the company disposes of a major asset or undertaking.