What are the reasons that someone would convert $0.02 options now rather than just selling them on market?
There is basically no arbitrage opportunity at the current prices and by the time it takes to pay the conversion fee and have the company issue the shares you can't predict how the prices may have moved.
All I can think of is starting the CGT clock now after conversion now rather than waiting for a later date.
Ann: Appendix 3B - Exercise of Options, page-2
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