CXU General Chat, page-267

The question was asked in another thread why we converted the 10m option in addition to buying shares on Market
- As you all would be aware we hit the creep of 3% every 6 months once we hit 19.999% for flexibility reasons we wanted to start this timer. That is not to assume we will increase our holding but I always believe we need the option.
- We currently still hold 65m options and their conversion is restrained now by the 3% creep. If not managed correctly they may present a problem converting by due date.
- Our recent buying of options and shares had put a floor in the price its also started to get harder to buy either with out forcing the price higher. Our trading in BOE shares has taught us that its very easy to force the price in either direction when you are chasing or selling large quantities of a stock. BOE is a lot larger then CXU so you can image what would happen in CXU.

Hope that answers the question. I stand buy what I have always said, that CXU is a great business with great management. The true pound in the ground is only just being found.
Keep well.
Tony