PIC Options

On 2 June 2021, the Company announced a one-for-one bonus issue of Options available to Eligible Shareholders in Australia and New Zealand to acquire fully paid Shares exercisable at $1.35 per Option on or before 2 September 2022.

The options are expected to commence trading on the ASX on 30 June 2021.

The Options Prospectus should be read carefully and in its entirety before you decide whether to deal in or exercise the Options. If, after reading the Prospectus, you have any question, you should contact your stockbroker, solicitor, accountant or other professional adviser.

By returning a completed Option Exercise Form and paying the Exercise Price, you acknowledge that you have read the Prospectus and you have acted in accordance with, and agree to the terms of, the Offer detailed in this Prospectus. The Option Exercise Form is available to download here.


FAQs

What are the PIC Options?

PIC Options provide the opportunity to acquire a PIC ordinary share for $1.35 (exercise price) per Option granted under the Prospectus.

What can an Option holder do with PIC Options?

An option holder of PIC Options can elect to:

  1. Exercise some or all of the PIC Options on or before 2 September 2022 and be issued new PIC ordinary shares; or
  2. Sell some or all of the PIC Options on the ASX before 2 September 2022
  3. Do nothing and their PIC Options will expire at the end of the exercise period (2 September 2022)

When can PIC Options be exercised?

PIC Options can be exercised at any time from the Issue Date (expected to be 29 June 2021) until the Option Expiry Date 5pm (Sydney time) on 2 September 2022.

What is the exercise price of the PIC Options?

The exercise price of the Option is $1.35. This is the price at which Option holders can acquire an ordinary PIC share when a PIC Option is exercised.

At the time of exercising the PIC Options, the exercise price may be greater or less than the PIC share price on the ASX. There is no guarantee that the PIC share price will be greater than the exercise price at any time before the PIC Options expire on 2 September 2022.

It is recommended that you consult with your stockbroker, solicitor, accountant or other professional adviser before dealing in or exercising the PIC Options.

Is brokerage payable for the option exercise?

No, option holders that choose to exercise options into ordinary shares do not incur brokerage or transaction costs.

How can PIC Options be exercised?

The Options can be exercised by completing the Option Exercise Form, paying the Exercise Price per Option in accordance with the details provided on the Option Exercise Form and returning the completed Option Exercise Form to the Share Registry before 5:00pm (Sydney time) on the Option Expiry Date, being Friday 2 September 2022.

Payment of the Option Exercise Price and the completed Option Exercise Form must be received before 5:00pm (Sydney time) on the Option Expiry Date (being 2 September 2022).

Option holders can exercise part or all of their Option holding by indicating on the Option Exercise Form the number of Options they wish to exercise, and paying the appropriate amount (being the Exercise Price of $1.35 per option multiplied by the number of Options being exercised).

An Option Exercise Form is only effective when the Company has received the full amount of the Exercise Price in cash or cleared funds.

An Option Exercise Form means the personalised option exercise form that will be sent to Eligible Shareholders with the Prospectus.

Who should I contact if I have questions about the PIC Options?

If you have any questions in relation to PIC Options, please contact Link Market Services on (+61) 1800 421 712, at any time from 8:30am to 5:00pm (Sydney time) Monday to Friday or your stockbroker, solicitor, accountant or other professional adviser.