Converting options rather than buying on market is a way of supporting the company by injecting more cash into it rather than recycling existing cash in the market. seen this done many times before where directors or others believe in the company. Directors are no different to the rest of us when it comes to how much spare cash you have to invest. So yes possibly some selling of their shares to fund option conversion that injects capital into the company.
No issue with this so long as thy are not dumping and smashing the SP down.
Ann: Change of Director's Interest Notices, page-8
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