Ann: Change of Director's Interest Notice - Mr A Kimelman, page-54

You have less capital at risk but their are other risks to consider.

Some risks are:
- lower liquidity ( can be harder to sell and buy )
- do not give you voting rights until you exercise
- if takeover you may miss out unless you convert
- options could expire ( you might forget to convert )
- if options aren’t ‘in the money’ you can’t convert

You also reset CGT clock when you convert. Seek tax advice.

Have a strategy for how you will pay for exercising down the track if you are holding long term.

DYOR. Not advice.