Ann: Application for quotation of securities - AAU, page-24

possibly because they (or their clients who may even hold under custodian model ? which veils their identity by being 1 step removed from the Share Registry) have already been allocated a bucket load in the 90M shares issued 5th of May with 1 for 2 options, and they're taking cash off the table to hold just the options for free ?

Why would they do that ?, because most other "loyal holders" are being forced to hold through to Record Date of the 15th of May to get their less attractive 1 for 3 "almost free" options, so it presents a small window for that broker / clients to get their money off the table and onto the sidelines at cost of their recent participation in the Cap raise, and presto free carry 2 year options for particiapating in the Cap Raise.

It's another reason why such an attractive 1 for 2 free options was so wrong and against the interests of existing shareholders !