Like I said - there are a few "ifs" in the equation
but it all comes down to how much faith they have in what is ahead of them
to buy the amount of shares - 6,750,000 - that are on offer would take the SP to substantial levels well above the 10c mark so I think the option conversion is probably a cheaper option in terms of outlay
If they are confident of the NAG path (which I reckon they are) they will convert
I would personally rather see them buy these shares on the market and watch the SP take off again
We'll all know next week
PS - a few years ago a similar situation occurred where the SP was much lower than the option conversion rate - and they all converted
