I believe that they can. I've always thought that they'd tie in any option conversion with the convertible notes; which can be converted/redeemed on 20 July.
The current cessation of the buy back is looking more and more like a move to avoid any perceived conflict of interest/artificial propping with any deal. If a deal is afoot they may also be looking to preserve cash; which may be another factor in option/con note conversion.
Pretty frustrating at the moment, but can't help but feel that they are on the cusp of something. The failure of the planned merger with Byron was disappointing; but it also showed that management (whilst slow) had been very, very good with their deal selection. I'm just hoping the lightning can strike twice....albeit with everyone rowing in the same direction.
MEL Price at posting:
5.5¢ Sentiment: Hold Disclosure: Held
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