Thanks Ian D
All sane 20 cent option holders will want to exercise their options particularly when the company has had a recent 25 cent cap raising. And has a huge Plan in front of them.
My point is that most option holders own the heads and to exercise their 20 cent options they need some cash and therefore they sell a few Heads to fund the exercise.
And this will gradually depress the sp until March 31.
shareprice, page-3
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