CCO 6.25% 0.9¢ the calmer co international limited

Ann: Notice under s708A(5)(e) of the Corporations Act 2001, page-2

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    Hmmmmm. Curious. Why are CCOOA option holders exercising 23 months early? When it comes to options, time is very valuable. Exercising now seems to be value destructive.

    I can't see a dividend being paid in the next 18 months, at least - so I am guessing that this is not the answer.

    Any ideas?

    SirKnight.
 
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