AVZ 0.00% 78.0¢ avz minerals limited

Mameimo,Excuse my naivety, but who is Leonard?I'm not sure of...

  1. 510 Posts.
    lightbulb Created with Sketch. 13
    Mameimo,
    Excuse my naivety, but who is Leonard?
    I'm not sure of ASX rules and regulations and hence can only assume that the advice that Option Expiry date can not be changed/ extended may be correct and the case.
    Although I do recall owning some options in LOM (Lucapa Diamonds) a few years ago, whereby Option holders were issues new options, with a new (8 months later) expiry date for a notional cost (1 for 2 ... with a cost of $0.001 per new option) via a Prospectus. In other words the old option terms and conditions were not changed but the loyal option holders were offered new replacement options with different expiry date.
    You will find a copy of this prospectus at:
    https://www.lucapa.com.au/announcements/2015
    per announcements dated 22 July 2015 and 26 October 2015.
    I obviously don't know if this alternative method of issuing replacement options is viable and allowed (but as you will see per 26/10/2015) such an issue would be subject to shareholder approval ... which in our case could be an issue as some larger shareholders are not interesting in funds that will be injected when options are excrercised but rather that their significant shareholding are not diluted by options being exercised.
    Food for thought and "where there is a will there may be an alternative way.
    By the way, in LOM's case the new options issued expired in April 2016, so in effect simple post another $0.001 for each 1 for 2 option).
    GLTAH and stay positive and strong during these difficult times.
    Zippy1
 
watchlist Created with Sketch. Add AVZ (ASX) to my watchlist

Currently unlisted public company.

arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.