change in directors interest, page-30

Options can be converted at any time generally, but selling to convert can only be done in specific windows, and only if the person selling isnt aware of any inside information that the shareholders are not.
Given the recent roadshows and presentations and Half Yearly, no-one could suggest we were not told.
If GC was to leave this transaction until the final 2 windows, he may have knowledge of negotiations etc that may not be able to be disclosed at the time, and may miss the opportunity to convert.

As I see it, GC had a great opportunity to add 9 million more shares to his Super Fund, and took the opportunity while legally allowed to and the share price and volume also allowed.

If an announcement were to come out tomorrow, we could not say we werent warned, but he would be excluded from selling due to the window being closed.

In my opinion, a great opportunity, and well executed, with him owning another 9 mill shares and ADO $900k better off.