tom's theory on the options.

SBPO look like they are out of the money unless something very big happens soon!

As I cannot see this happening, here's my theory (pure speculation) on the likely outcome:

Existing shareholders will be offered a new 25Cent DEC 2005 option for every two Options or FPO held, at a cost of 1 cent.

If fully subscribed this will bring in a badly needed 1.5M less costs.

All comments welcome.

I hold SBP and SBPO.