let me do the sumsIf I bought the dec2010 options at say 0.02c...

let me do the sums

If I bought the dec2010 options at say 0.02c (current mkt value)
then I have to pay 0.0005c for the new dec2011 options
then i have to pay 0.01125c to exercise them
that makes
0.02+
0.0005+
0.01125+
=0.03175c per ordinary share
its cheaper to buy the heads at the moment.

if u bought the oppies at less than 0.016c then it is worth getting the dec2011 options.

just thinking out loud.

disc. I am holding heads only lots and lots of them.


"The Company now wishes to grant additional options to acquire Shares at an issue price of $0.0005 cents each, exercisable at $0.01125 cents each on or before 31 December 2011 (New Options), on a pro rata basis, to those Optionholders who still hold Options."