The options cease trading on ASX approx 5 trading days before 30 June 2016, so about 25/26 June. They are able to be exercised up until midnight 30 June 2016. Options holders will be sent a letter before then giving them instructions on how to exercise them and also provide an application form for shares. The funds and form will need to be with the share registry before close of business on 30 June 2016. It is not possible to extend the exercise date past 30 June 2016, they expire on 30 June 2016.
If you can buy shares today at say 0.08 or you buy options today at 0.01 and exercise them at 0.10 (0.11) why would you not just buy the shares, if you intend to be a longer term holder?
MPJ Price at posting:
0.0¢ Sentiment: None Disclosure: Held
