People - shareholders have more rights over option holders. I...

People - shareholders have more rights over option holders. I have been burnt as a significant option holder however that is a risk you take.

CTS are prohobitied from offering an issue to option holders ahead of shareholders. This is most definitely for shareholders and I have confirmed with the company. What some companies do is ask option holders to convert and then offer options to all shareholders. This is implied in the announcement and as stated previously the idea is to encourage option exercise and share buying.