If you convert your 10cent options between 3 May 2010 and 31 May 2010 , you receive a piggy back 12 cent option. The record date to convert is 23 April
What advantage is there in someone converting over 311,000 options yesterday. They just paid 10 cents to convert into a 19 cent share, when with a little bit of patience they could have sold on market the options for 14-15 cents. They are also no longer entitled to the piggy back 12 cent option like if they had converted in May.
Seems like a lose/lose situation here or am I missing something?
Regards Ton io
MFE Price at posting:
19.0¢ Sentiment: LT Buy Disclosure: Held
