In this case, the options are unlisted - so the easiest way to cash them in is to convert, then sell the shares. If I had three million of those options, it would cost me $90,000 to convert them all - and I could then (at 12 cents per share) sell 750,000 shares to cover the cost of the conversion. Sure, there'd be capital gains tax to worry about, but still. 2.25 million shares for (effectively) nothing except the CGT? Not a bad way to lock in some of the gains whilst retaining most of the potential upside.
This is all speculation on my part, but I'm really not seeing anything in particular to be worried about.
PEK Price at posting:
12.0¢ Sentiment: Hold Disclosure: Held
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