offloading?, page-29

Now this is what you'd call a balancing act.

If the FPs manage to settle around 18.5 or more then the holders of the options have to decide whether to pay their money within a matter of days (30/06)and keep their investment in the options alive or to walk away and write off the loss.
If enough think that it is cheaper to buy FPs now that may push the price over 19c which is where the options come into play.
Obviously not all option holders ever had the funds to convert so it is likely that some will regardless but the rest ---probably not.