where is bell potter?, page-20

Conditions of the second tranche to be voted this Friday:

(a) the maximum number of Shares to be issued is 59,200,000;
(b) the Shares will be issued no later than 3 months after the date of the
(c) the issue price will be $0.04 per Share;
(d) the Shares will be allotted and issued to clients of Bell Potter Securities
Limited

Well it seems like the issue price is already set in stone and there are no clauses in the entire document to allow for a change in this price. Essentially we either have a good arbitrage opportunity or NMR is going to make a rather disappointing announcement regarding a revision to the issue price. If its the latter, surely there has to be a time limit to this considering we are 4 trading days away from the meeting