Maxter, in regards to the options a couple of things to consider.
Annexure: replacement Prospectus.
If enough options are summed by the entitlement offer, then ptx can apply for quotation of listing with the ASX.
That means that holders can trade and buy like ordinary shares. Given the exercise price and expiry date ( often the determine factor with a decline in value as the set date closes in option trades), a great assert to acquire especially when offered free as is the case upon us now.
If the options do not get listed, then cannot trade hence need to be excersised during and before the expiry date and at the set price.
A couple of scenarios to make it a little clearer.
In the case of the options been on market to trade; many, including myself, would buy more and other holders (having not paid money for them) would sell them for sure, hence a market would manifest at a particular price.
If the case was that the options were not to trade as their own entity, then only if the SP was to get higher than the exercise price would we participate in converting them to ordinary shares, and only then would the company have any additional funding for their cause.
An extreme example of this may be if a commercial deal took effect before the option expired date, then holders conversion from options to ordinary shares would be seen in hindsight as a gift from the company. Hope that helps, cheers.
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