All good thanks , and hope likewise for you.
There are only really 3 reasons for a holder to exercise options.
- they are dated options and they need to exercise before the options expire.
- a dividend is being paid and they need to exercise the options to convert to ordinary shares to receive divi.
- they exercise the option to sell the ordinary shares.
I would therefore think , option 3 , is in play here.
Ann: Appendix 3B, page-8
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