Pertinent market/industry news/articles, page-2329

A great question & thanks for bringing it up.

The simple answer to your question (do they have any ARL shares/options left? ), is yes they do but the question then divides in to 2.
1: do they have money to spare at the moment to convert those shares?
2: does the behaviour of the ARL registry ( trading volume etc ), allow them to capitalise on that conversion?

I’d say the answer to question 1. Is ‘neutral to doubtful’ given their current financial position & the answer to 2. Is ‘no’.

They have to pay 25 cents for each of the few million options they still have. They would then have to offload them in a timeframe that would help them.

They’re in a really tight spot & the options are a catch 22 that won’t get them out of it. I’ve felt for some time now that a chunk of those options won’t be exercised.

This is also pertinent, to a very small degree, as to how many Godolphin shares each ARL holders will receive.
The Heron options ( nothing new- they were part of the deal we made with Heron to get the $100 billion plus worth of minerals in the various tenements we now hold ), are what can change our IPO ratio from 3.74 (?) to 3.91* ARL shares for every 1 IPO share.


*See attached picture ( paragraph 4 ), which was taken from page 10. Of the recent EGM announcement regarding the Godolphin IPO.