Tawny
This is a direct quote from the spp offer letter.
"Under the Options Offer, Eligible Shareholders are entitled to one option exerciseable at
$2.00 per Share and expiring on 28 February 2009 for every two Shares successfully
subscribed for under the SPP, provided that their Shareholding as at 7.00pm AEST on the
Option Record Date (13 June 2008) is not less than their Shareholding as at 7.00pm AEST
on the SPP Record Date (30 April 2008)."
I read that as being based on absolute numbers, nothing else.
will spp effect share price, page-22
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