Qrt Report ????

Does the acting MD Bill Ritchie Yang and NED's really know what their doing at BGH ??

Todays quarterly report under "Finance & Corporate" states -  

* Bligh will issue a PUT Option to Terrain over 4 million shares with a 5 cents strike price and an expiry of 14 months, starting from the 28th November 2014 (total value will be $200,000 plus GST) ​

*  Terrain has agreed not to exercise the PUT Option for the first twelve months and can only exercise the Option in months Thirteen and Fourteen.
and
Terrain settlement

* 4,400,000 Convertible Notes converting into Fully Paid Ordinary Bligh shares on a one-for-one basis with no escrow.​

In both the announcements dated 26 November 2014 and 1 December 2014 it clearly states -

"Bligh will issue a $200,000 convertible note to Terrain Minerals Limited "rather than issue "4,000,000 Fully Paid Ordinary Shares and a corresponding Put Option. The convertible note will be non-interest bearing and convertible in whole or in part to Bligh Fully Paid Ordinary Shares at any time by Terrain Minerals Limited at 5 cents per share. The convertible note will expire 14 months after its issue at which time it will be redeemed. "

Is the company issuing both the $200,000 Convertible Note and the 4,000,000 FPO shares with a put option ???

If I seem confused, I am !!



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