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ASX is open and my IG account shows the link below (phone dealers to trade)
https://drive.google.com/file/d/1-HHjl1CYFPHt3jhg2JLK5yZNjsutDmQ-/view?usp=sharing
Nasir if you take your options you will receive normal shares in return which are indistinguishable from your current holding and you are free to sell or hold.
When TLOU issued the options they declared them to be NON-renounceable.
Think of the option as an IOU for shares which will cost you 4.4p or 8c.
If they were renounceable you could sell your IOU on Ebay or down the pub etc for whatever price you can get.
TLOU would then issue new shares to your mystery buyer ,( or whoever he sells them to) , in return for 4.4p or 8c each.
"Non-renounceable rights are issued by the company offering the shareholders the option to purchase additional shares of the company, usually at a price lower than the market price. The rights can neither be transferred to other investors nor sold in the market.." i.e. the IOU is only acceptable from the account to which they were issued (yours).
Brad if you take them but you cannot sell them then what happens to them when price is reached 8.8.
And if you take them but price does not reach as above as per the specified date then what happens to them.
I had to email HL several times to get them to even acknowledge they had made a mistake by not crediting my portfolio with options and only had them added a few weeks ago. But even now whilst showing there is no facility for converting to shares via app or on a pc, I’ve mailed them again to ask them to action this before the price drops and the chance has gone. Seems to be no negative to converting to me, at least you then have the option of what to do with your own money regardless of if you are holding or selling.
Well done Kernow, the key term is vesting period or schedule.
This is absent from our RNS , but all out options appear to be immediately available.
A schedule would limit how many can be executed at each milestone.
It begs the question , can we spread the take up?
I'm ok because I have 4 accounts each with options so I can spread them one account at a time!
The example given in my previous link took all 100% so did not help.
Cashless exerciution looks good if I'm short of cash - I wonder what they charge? They'll sell shares to pay for it and anything else.
I have emailed Tlou and asked what the timing and process is and will report back on anything I receive
Cheers
Thanks kernowlad.
Halifax has said that until Tlou states they can be admitted then there is nothing we can do
Zippy, I'm not hopeful of getting any posts that help decide on what to do here so I'm looking for myself.
Our options seem to be classified as Employee options because the option rights cannot be sold - we have to take or reject each option , and TLOU will delete those we reject i.e. nobody else can have them (avoiding dilution).
This looks a good starting point ...
https://www.thebalance.com/understanding-your-employee-stock-options-2388513
Reply on here shows complete thread - maybe it is based on how long the thread is.
Guys, I think you may need to speak to your brokers to take the options.
They might then add them to your portfolio and/or make them tradeable online, or pass it to the back office to do.
I believe commission is payable by us, unlike placings where the company pays - so online might be cheaper if you are given the option.
I'd appreciate any news on this, I have never been granted options before and accepting them looks a bit random between brokers.
Mine aren't available to purchase on HL yet Zippy.
Has anybody on here purchased these options now that the trading price has risen above 4.4p
We can actually get our 4.4p warrants in the money! Good news for TLOU as its extra cash too. Very dark days over the last few years so hoping its upwards now and us long term holders will be rewarded. I took loads at 2.2p so now seeing the profits.
For balance I also took loads at 5.7p a few years ago im that plaing too!