heads or options, page-2

Terry,

I think the heads are the way to go.
Having said that, in my opinion only, a reasonable chance the options will play a role here prior to expiry.

The major shareholder is new to the SXG register since the takeover of Polaris.

The major shareholder is and has been in acquisition mode for the past two years.

I can see only one of three possibilities in no particular order.

The options will expire and a cap raising will be required

or

The options will be in the money

or

The options will be under-written.

If it were to be the latter, I will let you judge what the
future might hold.

Sorry to muddy the water!

Cheers.