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Capital Raising

Last updated 2 years ago

What are options?

Options are a type of financial instrument that give the holder the opportunity, but not the obligation, to buy shares in the future.

Options are a type of financial instrument that give holders the option to purchase shares in the future at a predetermined price. These securities give holders the right to purchase a security but not the obligation, providing limited downside and unlimited upside potential. Placements can often include free attaching options as a part of the offer.

Key Terms

Options Type - There are two types of options. A call option gives you the right to buy an asset at a predetermined (strike) price. A put option gives you the right to sell an asset at a predetermined (strike) price.

Premium - The premium is the price you could purchase or sell an option for. In placements there are often free attaching options.

Strike Price - The strike price is the price the shares can be purchased for by exercising the option. 

Expiry Date - Options can only be exercised before the expiration date.

Listing Conditions

Options can be listed or unlisted, both give you the ability to buy and sell the security, however, listed options can be traded on an exchange.

Listed options can be found in your brokerage account along with your shares as they are allocated on your HIN, they can be traded on an exchange the same way shares are traded on the ASX. 

Unlisted options cannot be traded and will not be found in your brokerage account. They will be issued to you on an SRN which will be mailed to your bidding entity's CHESS address. You will be able to look them up in the company’s share register using your SRN.

Read this article for more information on SRNs and HINs

Exercising Options

Listed and unlisted options can only be exercised through the company’s share register. You can view the option on the register by using your HIN/SRN that they were allotted to. To exercise them you will need to request an option exercise form, fill and return it to the register.

There are several share registers that ASX listed companies use, to find out which one holds your share information you can search the company on the ASX website here and scroll to the bottom of the page to find the share registry they use. You will then have to log into the share registry's single issuer login to locate your holdings.

Missing your holding details?

To find your options, you can follow these steps:

Step 1: Check their listing conditions - This will be outlined in the offer letter

Step 2: Check if they are subject to shareholder approval - Options can be subject to shareholder approval meaning they will need to be approved in a shareholder meeting. They will only be allotted after the meeting has concluded. You can look for information regarding this in company announcements, specifically - Notice of general meeting, Appendix 2a and Results of general meeting announcements.

Step 3: Check the register - you can log into the company’s register to view your options. Listed options will be issued to your HIN and unlisted options will be issued on an SRN, you will have to use these to log in to the register. This will be outlined on the holding statement you are sent.

If your options are unlisted and you have misplaced your SRN...

Step 4: Contact the company's registry: You will only be able to view them on the register with an SRN. If you do not have your SRN, you will need to email the register and request them to mail this to you again. Share registers will not provide these details over the phone or email, they will only mail these documents to you. 

Please note that the holding statement can take up to two weeks to arrive in the mail

If you are having trouble finding your options, please contact and we will help you through the process of locating and using your options.

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