In some circumstances, that might be the case (as the options are unlisted, only saleable when exercised).
But if you consider the number involved, the holder certainly has a lot of skin in this game. The options were only available to someone who invested in the SPP, and he/she must have purchased at least 850,000 shares (One option for every two shares purchased). Likely a director,or a key player who subscribed to the shortfall.
If they want some cash out at this stage, it's a good time to do it - when the SP is on an upward trend, with potentially very positive news around the corner. Unlikely to do damage to the SP. And brings in new investor/s at a higher price.
And the key thing is, it introduces new capital to the kitty, over and above what was expected.
I only see positives, but I guess I tend to be a glass-half-full kind of guy (especially in regards to KIN ! )
