watching closely, page-9

kheng,

You can convert the WHNO's at anytime, they don't have to reach the target price. All you need to do (if you hold options) is contact the share registry and they will send you the appropriate forms. You then fill them in send them back with a cheque and some days later your options disappear and you are holding shares as if by magic.

The options can be converted even if the SP of the heads has not reached the strike price, but this would be a bit silly.

Even if the options are "in the money" you need to take action before they expire (sell or convert), if they are not converted before the expiration date they are worthless.

WHN's share registrar is:
Advanced Share Registry Services Limited
150 Stirling Highway
Nedlands, WA 6009
Telephone: 08 9389 8033
Facsimile: 08 9389 7871