rise and fall of the sp, page-10

crow - this is why oppies are dearer..........

"The Company has on issue at the date of this Notice of Meeting, 31,252,710 options (ASX Code: ERHO) with
an exercise price of $0.10 and an expiry date of 24 July 2009 ("ERHO Options"). The terms of the ERHO
Options provide that upon exercise, the holder shall be issued with one share and one new option.
The abovementioned "new options", hereafter referred to as “Piggy Back Options”, have an exercise price of
$0.20 and would have an expiry date of three (3) years from the date of issue. Given that the ERHO Options
can be exercised by a holder at any time before 24 July 2009, each Piggy Back Option may be exercised by
holders at different times, thus creating a number of Piggy Back Options with different exercise dates. As at the
date of this Notice of Meeting, 1,750,002 Piggy Back Options have been issued."