Forum Archive Index - October 2001

["Nigel & Sue Bendig" <thebendigs@paradise.net.nz>]

Cullen

 

Yes, you can buy/trade.etc now, and up to the exercise date

 

But before we go roaring ahead with the assumption that 2004 is a done deal, it ain't, and still needs the AGM (shareholders) to ratify the move.

 

Up to then (the AGM) the date for handover of the cash (8 cents) is 29/3/2002. If you hand over the money at that date the options will cease and convert to fully paid shares. If you don't, then they are renounceable(sp?) (i.e they can't force you to pay the 8cents, but you don't get any money back - they disappear)

 

The options SPEOB are 8cent options, not 6 (the six cent options are employee available only)

 

Bottom line, if you think a) the date will be extended to 2004 at the AGM, and/or  b) the shares will trade at over 8cents (plus the cost of purchasing the options) by either the 2002 or 04 date then go for it.

 

Disc - hold SPEOB from the dark days of the share split

 

Final thought: - Someone  once said you can lose your shirt share trading, but options can take your entire wardrobe (or something like that)