well we can see that the options are now trading at a 2 - 3 point discount to conversion (i.e @ 0.9 it is in effect 2cent entry vs 2.2/2.3 on the fully paid), which is signifcant 10% - 15% discount.
This is common when leading up to exercise of options, but is usually when the premium of conversion doesnt leave much buffer for when those converted options come onto the market. But @ 1.1cent conversion and the current price of 2.3cents on the heads, mark my words they will all be converted, and with a buffer, so why wouldnt you buy the options? in most cases it is because they dont want to wait until July 31 to get their shares.
Well I just rang 03 9824 5245 (from the options sheet) and spoke to a Peter, and he said that they will be converting and distributing shares every friday or there abouts, so you will get your shares within 5 days, and not July 31st, if you convert now. Call him to confirm, but if you are looking to enter for the medium to long term, it is a much cheaper entry, and the funds paid go directly to supporting the company. This way also, there wont just be a chunk of stock hitting the market all at once. WIN WIN for everyone.
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