Ann: Investment Update & NTA October 2014, page-6

True, I've bought them with the intention of a forever hold, so we'll see what happens. Here's one analysts take on it:

"A simple way to protect yourself if you wanted to own FGX but found the options concerning would be to buy equal parts of both. If you buy 1 FGX & 1 FGXO (at the moment, the pigeon pair would cost about $1.075 or $1.08 - so still less than the IPO investors paid) and the NTA is say $1.40 in September 2016, presumably every rational investor would exercise their option, thereby leading to post option NTA of $1.25 per share. Presumably market participants will be aware of this in the lead up to the exercise & FGX share price will tend around the post dilution price.
If the next 2 years in the market are tough ones and the NTA is say 90c at exercise date, then rational investors will let the option lapse and NTA and share price will presumably remain around 90c.
Patiently waiting in investment markets is generally a wise path, but the point is, you can figure out what the SP should be inclusive of and exclusive of the options."