RE: Put Option23 Oct 2023 14:53
Maybe VELA thought they would get a lot higher return when selling the shares. Say $5 dollars a share but now that potential windfall of $4 million is now worth just over a $1 million.
Did VELA pay for the initial investment via a placing?
And had to fork out £400K to get the put option?
I agree though it doesn’t make any sense not to exercise the OPTION.