re: sbpoa - balmersdog Incorrect. The conversion price is truncated across three years. 12c in September 2004, 20c in September 2005 and 30c in September 2006. I think this trucation is designed to force option holders into exercising if the share price is slightly above the conversion price for a particular year. This strategy had some effect in September last year when the SP was 14-15c. They raised about $1M as option-holders converted to shares @ 12c/share. All this aside, the options offer high leverage to a promising biotech company.
SBP
solbec pharmaceuticals limited
