yes the strike price is 14c but if the price remain close to 14-15c mark by the time options expire, not many options will be converted and uptake will be poor.
Share price will need to be substantially higher (in this case probably 5-7c higher than strike price) for people to feel incentivised to convert. I feel 20c is just about the right price to be at for a major chunk of options to be converted.
Hope it clarifies.
Ann: RRS Gold Coast Conference Presentation June 2022, page-106
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