If you have spare cash right now it would be cheaper to buy heads at 3c than convert oppies at 7.5c.
But to answer your question when a director or substantial holder converts and it changes their position I believe it gets announced, for us little guys I'm not sure. But I'd imagine at some stage there is a need for a cleansing notice to advise the market there are more shares now and less oppies.
If and when a big boy converts a big bunch we will know, the SP will usually be over strike price.
As an aside someone mentioned oppies can be a strategy to take a dominating position in a stock. A big boy may convert 2Bn for example and combined with their existing holding become the largest holder and with over 20% take a seat on the board. Basically trying to buy 2Bn shares on market is considered as good as impossible without sending the price sky rocketing out of control and well beyond 7.5c.
2Bn at 7.5c is $150M, there has to be good motives to do that which don't exist right now imo.
AGO Price at posting:
3.0¢ Sentiment: Buy Disclosure: Held
