spin off bauxite , page-17

Novac,

A priority entitlement means that shareholders in UMC are entitled to buy shares in BA before the general public can normally apply. It basically means you receive preferential treatment. Normally, you would need to be a shareholder, not optionholder, to participate in the priority entitlement (ie you would need to exercise your options first). The registry handles all the admin on these issues.

Let's not get ahead of ourselves here though, we should wait and see what UMC tells us next week.