As I understand it, anytime options are converted to fully paid ordinary shares some dilution has technically occurred because the options might not have been exercised.
I agree the effective dilution is tiny.
But I am wondering why this happened now as well. Was it a director looking to get cash from the market or KDR looking to get around 420k in cash?
Ann: Section 708A Notice and Appendix 3B, page-5
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