Ann: Options Exercise, page-36

4 more days of opportunity to get lower prices on IHL by buying options....

Almost done here folks. And another reminder of how strong most of the Top 20 are. Seems that most of these conversions have been done by smaller holders. Couple big ones like Mr F already converted, Chaya going to convert etc. I have the feeling that Chaya is probably our #1 oppie holder from how much he said he has to shell out to convert.

We haven't seen the Top 20 convert yet, but oh boy they will. #2, 3 and 4 are all related to Troy Valentine our Chairman.
#5 is the croupier, who will certainly convert. #6 is an entity related to Glenn our CS. #7 is on Twitter, Rian Kratzke who I assume will also convert. #10 is our CEO and MD Joel. #12 and 17 is the same person who is the current #3 shareholder in IHL shares. Likely they will convert.
#15 is our non-director Peter Widdows who participated in last years 3.8c placement with his own $$$. #18 is the CS Nominee Acc who is also #2 shareholder right after Sud.

Currently 180M IHLOB still left on issue, Top 20 control 141M of that. I think that so far most of these conversions have been done by smaller holders outside the Top 20. Certainly no directors have converted yet as we would get a change of Director's Interest Ann. That leaves around 40M left unaccounted for in the hands of smaller holders. Either way, I think we can be very confident that the entire Top 20 would convert their options, this is shaping up to be massive for the company and its balance sheet. Should be sticky fingers too for most if not all of these holders.
I have the feeling that almost all of the IHLOB will end up being converted.