these 1 for 2 options were issued in Dec 2020 with the 5.7c cr, long before the Caldeira acquisition.
The CR was for $4m and was cornerstoned by Tolga Kumova for $1m, and an investment syndicate led by Keith Biggs and Gerry Harvey for $2m.
So if you see where the options went to you would assume that these well heeled investors wouldnt be desperate to raise money. So it leaves perhaps 1/4 to 1/2 of the option holders who would sell to fund their conversion....
General discussion (MEI), page-3675
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