Incredibly strange and misleading. Even if this was going out in snail mail they should know better than to represent the share price in such a firm manner.
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I love this thread :blush:.
It is real education and entertaining.
Best Wishes
Paper Tiger
Looks like the options aren't in the money anymore, seems NTL mangement have a problem with timing their announcements at the worse possible time. 2 for 2, will there be a third?
I think Matt H and his mates are in for a flame grilling at the AGM. I hope so, seems there are a few too many unanswered questions stacking up...
Should have followed the maxim, buy the rumour, sell the news. I wonder how the AGM will turn out. Might make for interesting viewing.
Oh well I just bought my 15k of options.
But I paid 1.8c for them instead of 2.2c so I am happy :)
Time will tell but I am happy as I almost bough them at 2c :)
I am getting back in, yahoo, its play money anyway in comparison to property developing
Post note: option docs in the bin
Over and out till after the AGM and the Election
Lets see if that brings some certainty and a clear path ahead, but obviously at a slower rate now that the new SPP has failed.
In all serious, does this last announcement constitute false and misleading information? It blows my mind that they released it. Pertinent sections bolded:
This is a reminder that your listed options expire on Nov 28, 2017.
The options are exercisable at A$0.02 per option to convert into shares. NTL
has determined that it will also accept the New Zealand dollar equivalent
payment, being $NZ0.02165 per option.
*The options are currently "in the money" and NTL shares have consistently
traded in the money for several weeks.
The company currently has a share purchase plan offer underway. NTL
**encourage you to exercise your options, in conjunction with the share
purchase plan and accordingly to return your option exercise form as soon as
possible and by 22 September 2017. An early exercise of options will not
affect any Share Purchase Plan entitlement. If you do not exercise your
options by 22 September, you can still exercise closer to the expiry date 28
November.
Any documentation or payment received after 28 November will not be eligible
to convert to shares as the option will have expired.
If you wish to exercise your options please complete the attached form and
return as directed on the form.
* Factually in-correct at time of publishing. Even if this was correct isn't this mis-leading by nature of the claim given the markets are, by their very nature, volatile?
** This attempts to imply that those exercising options should do so at the same time as exercising their right to buy in the SSP thereby encouraging them to prematurely exercise their options for no other reason than postage costs at the current share price.
As I write this the SP is not 1.5c AUD, equiv to 1.7 NZD.
Disc: Former holder who did not lose their pants.
Don't you feel it could become a rap?
NTL NTL the time is now
You've got options, you're opportunity
Cause your 'in the money'
All that gold in the land of honey
Lets dig it up now, lets get underground
The greens got nothing on us
Cause we're NTL, NTL and the time is now
You've got options, you're opportunity
Cause you're 'in the money'
Ok perhaps I should stop lol
On a more professional note:
Announcement should have been more professional
-First rule of thumb, I find managers who talk about shares prices to be self serving, management should always refrain from discussion share price. Also don't talk about a share price exercising options when several weeks proves nothing, if it was several months that would be a bit more different.
-Use of 'in the money' was too casual
-Their encouraging plead sounds desparate
-Lastly the announcement was border lining on unnecessary, all it should have been was two sentences giving option holders a reminder.
The "we encourage you to excercise your options" is a nice touch that leaves a poor taste in my mouth frankly. Last time I heard that was when someone tried to sell me pyramid schemes.
Misinformation aside, the coercively worded letter is just appalling, screams desperation.... hats off to the lads who ran out the door while it was "in the money"