Ann: Entitlement Issue of Options Withdrawn , page-8

They should issue the options but not at 1 cent. They should have been issued a 0.5 cents at a 1:2 basis with a 12-15 month expiry.

Then see what happens.

It is silly for a company to overprice the issue price of options. They should be there simply to reward shareholders for their loyalty. The exercise price should be used to RAISE CAPITAL not the ISSUE PRICE.

HMC should still progress on the options issue but issue the options CHEAPLY.