options offer prospectus and 3b, page-5

Very unusual to do something like this. Option holders are not shareholders and have no rights. Don't think it is right (or legal?) to favour one class of holder over another. I think all shareholders should have been offered the same deal. If I were a cynic I would say directors may have held a lot of the old options.

What about the share holders who sold out before expiry not knowing about this. If directors were holders they would have known well in advance and would not have been so quick to get out before expiry.

Also dilutionary and not in the best interests of shareholders in my view.

Von.