AVRO, page-59

Got a handful today @ average 58c... slightly higher than i wanted... but then if you look at the bigger picture not too fussed.
One real concern I have has been touched upon earlier in the thread concerning major holders dumping options they cannot afford to convert. In my mind this can play out either

1. Majors get a short term facility to convert and then dump on market at cost or close to it
2. Majors allow AVRO to lapse, which isnt great but the dilutive impact of previous CRs is reduced
3. Majors dump AVRO's for almost nothing (which I will definitely be keeping an eye on come Dec 10) and retail shareholders pounce.

Based on AVRO trading over the last couple weeks it seems like a decent amount of the 2.3M odd on offer would be converted. I am hoping the FDA doesn't do its usual 'shaft the foreign entity shuffle' which is becoming real annoying as of late with another holding.

in each scenario I believe the baked in price paid by many holders (including new Insto holders) is at or around the $8 mark so barring any negative information I am comfortable there wont be any major tanking post AVRO lapse date.

Thoughts?