It makes no sense to do it.
Spend 25cents a share, to realise 320,000 shares?
Depending on how much the options were purchased for this increases the outlay.
Wandering if they were options allocated as payment?
Unless as you say, its to access addition 6 for 1 share options, I wonder if this made the deadline?
Ann: Appendix 3B - Issue of Shares on Exercise of Options, page-3
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