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26/08/14
23:46
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Originally posted by riverbrae
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Options.
(j) Reconstruction of capital
If at any time the issued capital of the Company is reconstructed, all rights of an Optionholder are to be changed in a manner consistent with the Corporations Act and the ASX Listing Rules at the time of the reconstruction.
THE OPTIONHOLDERS AT THIS TIME WERE NOT ALLOWED TO PARTICIPATE
(k) Participation in new issues
There are no participation rights or entitlements inherent in the Options and holders will not be entitled to participate in new issues of capital offered to Shareholders during the currency of the Options without exercising the Options.
(l) Change in exercise price
An Option does not confer the right to a change in Exercise Price or a change in the number of underlying securities over which the Option can be exercised.
(m) Unquoted
The Company will not apply for quotation of the Options on ASX.
(n) Transferability
The Options are not transferable.
THIS WOULD, I THINK , MEAN THAT HAVING TAKEN UP THE OPTIONS THE HOLDER CAN NOT SELL THEM AS OPTIONS
IF THE COMPANY WERE TO GO INTO AN EXTENDED TRADING HALT THEN THE OPTIONS MAY HAVE NO VALUE.
Same would occur if the shareprice stayed below the conversion price!
RB
Expand
Here is an example of an investment in CCC
Just have to gasp at this
After convincing shareholders to accept a 1:10 consolidation to strengthen the company, we are now going to be hit with 7020000000 new shares.
So a trade of $1000 would buy 200000 shares at .005c
That means anybody who had 2,000,000 shares before the consolidation has now got a holding worth $1000
http://www.conticoal.com/_content/documents/536.pdf
http://www.google.com/finance?cid=689656
Column 1
Column 2
1
Price
7.2c
2
Market Cap
A$192m
3
Share price graph
4
Share details
5
Code
CCC
6
Listing
ASX
7
Sector
Metals and Mining
8
Shares in issue
2,668m
At 7-12-2010
Column 1
Column 2
Column 3
1
Price
2
52 week
High
Low
3
8.3c
3.6c
8.3c X 2000000=$166,000
Under CCC management this $166,000 has been reduced to a possible $1000 at .005c
BUT, add up what management ,OKAP , and financiers have received
And then weep
Sorry, just the way it is
Anybody considering buying OKAP company shares should get professional advice
And then put the money on deposit at the bank .
Just IMHO
I am not qualified to give financial advice (having lost the lot on oppies)
RB