Clearly this is directed at the conversion of the 18 c options due on the 30 June 2018.To be able to participate one has to be an option holder on the 26 May 2018 less than 3 weeks away. Steven being involved with stockbroking prior to this job would know his register inside out and what it would take for the SP to rise...he clearly thinks it is undervalued .38 million options belong to institutional investors and will be converted if the SP goes past 18c and stays there...they could be underwritten...brokers like picking up cheap shares if not converted...Cash raisings like this will add over $10 million to the coffers...could be a late flurry to get these shares if investors see the market piling in...better than placements or SPPs as the money just floods in... all the hard work is done...just electronic transfers from a known shareholder base
Anyway 10c to 18c is a good leap...lets see if it is achieved.
PTX Price at posting:
10.0¢ Sentiment: Buy Disclosure: Held
