Take a step back and ask yourself would your prefer the options in the money or not?
It's money in the bank when converted.
Most importantly its a higher share price than below the option conversion price.
Those that have supported the company over the years and received options are being rewarded. Holds well for future raisings/support if people have made money from earlier support.
The only negative is the dilution and the potential to cap the share price. Dilution is negligible given the ~1.5bil shares on offer. The outstanding options didn't stop Oaktree from going in at 9c.
From memory these options were given at a high premium when the share price was in the 4's, so convert away in my view.
Take a step back and ask yourself would your prefer the options...
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