ready to run, page-10

Excellent question jjcale, and my opinion of this is yes they will be.

"They" being the company themselves. I have been having a look at the June 6c and 10c options, I noted a lot of the 6c options in particualr are held by the directors.

Now only three things can occur:

1. The pending news flow is going to be the best yet and will drive the price high enough that all holders will convert both and/or either the 6c and 10c options;

2. The directors will convert the 6c options regardless of what eventuates with the share price to display confidence in the company.

3. The sp won't do anything and none or few of the options will be converted.

1 and 2 above will ultimately drive the sp higher.

3 would clearly result in a dumping of PEN.

I will leave it to others to guess what may eventuate, however I believe there is a very strong chance of number 2 at minimum. Which ultimately will have a positive impact on the sp.

Cheers
HS