As the SP held well over 8c with some good spread on sell side i believe cashed up options holders would have converted to shares. I did convert 600K oppies and holding substantial shares now. Expecting SP to be around 20c in next 6 months time and that would be well over 100% return without much stress.
cheers
J
Ann: Options Underwriting Over Subscribed-GPH.AX, page-74
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