"As for the June 7th expiry date, that is the date that the share holders from the PP can start selling their shares. It really has nothing to do with the exercice of warrants. I hope this helps."

I think the real question wallace was interested concerned the affect of the selling of the shares acquired through the warrants on the SP of NOT. There appears to be nothing in the documentation to indicate that the hold date of June 7 would be altered, therefore selling of cheap shares for profit taking would leave NOT at a higher SP in June than if they were sold within the next month or so.