My guess is that they have an agreement that any unexercised options will be bought and converted by an insto that is prepared to underwrite such a deal. It is a win-win all around as the company secures the full value of options conversion while the insto gets equity at a discount to market. Option holders looking to either trade their oppies or exercise their oppies are unaffected. And shareholders suffer no less or more dilution that they were expecting.
But, until we see the announcement....this is just a guess based on the reasons for trading halt given by the company.
All IMO.
Trading Halt, page-4
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Change
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Mkt cap ! $86.67M | |||
| Open | High | Low | Value | Volume |
| 0.3¢ | 0.3¢ | 0.2¢ | $21.96K | 8.034M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 273 | 374806090 | 0.2¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 0.3¢ | 619525200 | 227 |
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| Last trade - 16.10pm 30/07/2024 (20 minute delay) ? |
| 88E (ASX) Chart |