new horizon, page-11

This is not true. The options will still offer leverage as you will have the choice to convert on not.

I received this email from New horizon Energy yesterday.

The shareholder resolution was to auhorise the directors to make the offer
to optionholders. That has not happened yet.

When (and if) it does, optionholders will be sent the relevant documentation
and they will have a choice of whether or not to accept the offer.

Jack Toby
Company Secretary
New Horizon Energy Ltd

RESOLUTION 6 (Key points)
The company proposes to make an offer to option holders of one share in consideration for every 6 listed options held by them. The company will cancel all listed options of option holders who "ACCEPT " the option offer.

The record date for the option offer is yet to be decided by the directors.

Although: the shares must be issued no later than 3 months after the date of the annual general meeting or such later date as approved by ASX