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Exercising options


prawnpack

Question

I have some options that I received for nothing as part of a share purchase plan. I wish to exercise them at the agreed price of AUD 45cents (AUD 0.45). The original price of each option was 4.5 cents which is exactly one tenth of the exercise or strike price (not sure why it's exactly a tenth, but maybe someone can explain that as well). Anyway, the shares have performed well and the options have obviously followed suit and have increased in value. However, because I got them for nothing, I'd like to exercise them for the equivalent number of shares at 45 cents per share which is what was agreed in the share purchase plan. The options expire in Jan 2022.

I've emailed the IG help desk and they say that I need to email them to exercise the options because I can't exercise the options online. However, I'm not sure whether I just email the help desk or some other email address and also I don't know how to word the email. I just want to avoid any confusion so I'm hoping that someone can explain exactly how I should word the email. I would like to exercise all of the options at the 45 cents per share. Please assist. 

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