something is afoot, page-11

Why do you exercise oppies early?

1. To sell them because you need/want the money now.
2. To sell them to maximise profit in anticipation of medium/long term SP decline.
3. To start the CGT clock and be in position to sell them when really big news has hit.

Superficially it seems like no.1 would be the most likely answer, but why the coordinated conversion by many parties (unless one individual converted many separate option awards together), they can't all suddenly need the money at the same time?

It seems most likely that several people have converted at once implying they're all responding to a new piece of information they discovered/learnt together, either that information is bad making option 2. the logical conclusion, or good, making option 3, the logical conclusion.

What could that positive news be? Maybe the ADO scientists working in Cardiff with BBI have seen success in scale up, or got wind that BBI are going to sign and have converted. Maybe an external party is planning a protracted but friendly takeover and the converters want to jump the CGT hurdle before it happens. Maybe they've discovered Mix&Go is a cure for HIV, Cancer, poverty and ageing. Who knows, but I personally doubt the SP will be lower than here at EOFY...