AUSTRALIA
PSP.AX
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Clarification of Letter to Holders of May 2007 'Piggy-back' Options
Publié le 21 mai 2007
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Company Announcement
18 May 2007
Re: Clarification of Letter to Holders of May 2007 'Piggy-back' Options
Further to numerous enquiries from option holders and stockbrokers regarding the exercise of the listed May 2007 options, the company wishes to advise that upon exercise of the May 2007 options by payment of the 12 cents per option, the holder is entitled
to a new fully paid ordinary share and also a new option exercisable at 20 cents per share on or before 31 May 2008.
It is proposed that this new option will be applied for quotation on the Australian Stock Exchange.? Using the 'Black-Scholes' model to value this new option, using the current share price of 11 cents per share and a volatility of 70%, the new option's value equates to 1.4 cents per option.
It has also been brought to the company's
attention that the letter sent to option holders dated 7 May 2007 and that released to the ASX Company Announcements Office on the 7 May 2007 differ slightly in the second sentence, first paragraph.? The letter sent to shareholders states:
'Each option held is for the acquisition of one ordinary fully paid share and one new option exercisable at 20 cents per share on or before 31 May 2007 ... ...' but should read
'Each option held is for the
acquisition of one ordinary fully paid share and one new option exercisable at 20 cents per share on or before? 31 May 2008, ... ...'
The share register apologises for the confusion and a copy of this letter will be sent to all option holders.
The company is also in the process of seeking underwriters to partially or fully place any shortfall from any options not exercised by the expiry date, 31 May 2007.
For recent ASX Releases about the company,? please press download to go to our website.
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For further information contact:
Ric Dawson (B) +61 8 9322 5872
Managing Director (M) +61 0418 892 128 | |
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