will be interesting to see if they convert. While it does represent an injection of capital, they still need to make a profit. The price at the time will be the deciding factor , but they will have to shift them.
There is a risk that there are not enough buyers to cater for their supply. I am sure their numbers men will run the ruler over it. It is how they make money.
If they take them they believe they can turn them for a profit.
There are over 1 million other options at $10 and below that they may have to compete with when turning a $$.
I am thinking the ASX is nearly tapped out with its capacity to deliver a profit to those providing the capital. The appetite for retail investors on the ASX to provide capital disappeared years ago.
I am sure work on the 'successor' entity is progressing as a priority to gain access to new capital. There are wages and bonuses to pay.
AVR Price at posting:
$17.60 Sentiment: None Disclosure: Held
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