Depends how YOU convert Vs simply sending the company the...

Depends how YOU convert Vs simply sending the company the correct form and some money.

eg. you can ''pass the parcel' convert on market atm ( which does not benefit the Coy ),by simply selling an option for .6c on mkt and buying a share for 1.1c thus quasi converting for half a cent. But you would only do such a thing if you were;

A considering yourself to be heavily overweight in options AND;

B of a strong belief, that you planned on converting them all along BECAUSE,

C you believed they would be well in the money in mature life AND OR,

D did not plan on selling heads to fund tails for 350% or greater conversion rate to the current ratio

but getting back to your question.

Many companies offer option conversion facilities via a facilitating broker, usually at a 5 or better % discount to the stated conversion price.

ESI has offered such facilities in the past I seem to recall