options

Dumb questions from a mum and dad investor who has never owned oppies!

Please correct me if I have the concept wrong!

1. I buy the oppies from UMC.
2. The oppies trade from day to day and I can sell them if I wish.
3. If I want to convert them I have to do so by 30/9/2011.

My questions are

1.When I buy them from UMC will they show up in my Comsec portfolio as UMCO?

2.Therefore can I sell them through Comsec as oppies?

3.If I excise them will they be converted in Comsec for me?

4.Is the excise price of $1.35 on top of the .10 meaning full conversion would end up being $1.45.

Sorry if this is a really dumb post as I have only ever bought and sold shares through Comsec, I am asuming this is supposed to be a little reward for shareholders and a win win if they will be shipping by 2011!!