Forum Archive Index - February 2000

["Paul Frost" <frostpt@ihug.co.nz>]

It's important you don't confuse the two.

AQLOA are options.These particular options expire on the 30 September 2000
and give you the option to buy 1 AQL share for every AQLOA held at a price
of .20c.
The period in which you can take up (excise) your option (AQLOA) is 1/9/00
to 30/9/00.
If in September AQL are trading above .20cents then it would most probably
be in your best interest to excise your option and hand over your .20cents.
If AQL were trading below .20 cents in September, you wouldn't excise your
option, and you would let them expire.

AQLGA are convertible notes.They carry no obligation to make any further
payments.
On 30 September 2000 you have the choice of redeeming them for .25cents cash
or converting them to AQL shares 1 for 1.(no payment required)
To answer an earlier question . If AQL are trading at above .25cents on 30
September you do not have to pay any extra to convert your notes (AQLGA) to
shares (AQL), and you do not forgo any interest.

I hope this helps.


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