Ann: Trading Halt, page-10

If you don't exercise then your options go to the underwriters and they sell off the shares to someone else, theoretically at a premium.

I am not too sure how happy I am to see the architects of the whole options mess underwriting this, but in the end EGA will have the cash and we should have the DFS sometime in the next 4 months.

I will be really interested to see how the SP responds post the halt. The options underwritting will take out a lot of demand, but at the same time it will remove the selling to pay for the conversion. Has anyone been through anything similar in the past?