My take on it is that between now and the OA conversion date...

My take on it is that between now and the OA conversion date there was news to come out which would have guaranteed that the OA's wouldn't be converted and the share price would be affected negatively.

This way the options still won't get converted but at least they are able to CR at a decent level. But then why would soph's buy in if there was bad news ahead? This really doesn't make alot of sense, time will tell with the announcement at the end of the trading halt.