I emailed the following message ti UTO a few minutes ago. Will post the response.
Any comments?
"Hello there,
"As you are aware, UTOO expire at the end of June and the exercise price has been set at 25c.
"I wonder if the dilutive effect of the coming increase in number of shares on issue should be reflected in the exercise price of these options?
"I do know that some companies adopt this practice but it may be due to specific, rather than general, company rules.
"I calculate that if you were to adjust the exercise price of UTOO, the new strike price would be 17.6c ie. 25c X 74,309,170 / 105,511,462.
"I suggest that such an adjustment, if it were to be covered by your rules, would revive interest in these options. Additionally it would give shareholders an additional investment opportunity as well as possibly providing the company with additional funds at this time.
"Needless to say I hold UTOO!
"Cheers,
"Bob H******"
I emailed the following message ti UTO a few minutes ago. Will...
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