pru and byr, page-103

I have gone back through the ASX announcements.

On the 3/3/10 PRU were issued with 34.8 million shares at 4 cents and 34.8 million options with an exercise price of 5 cents expiring 30/6/2011. If they exercise those options they will be entitled to "piggy back" options of another 34.8 million exercisable at 8 cents by 31/12/12.

And yes as I suspected a general meeting on the 27th May, 2010 approved all of the above and that PRU will be exempt from the takeover provisions regrading going over the 19.9%.

Wow, what a deal for PRU. They will end up with close to 40% of BYR at an average of about 6 cents per share.