why convert options in january

Tolli & mnb. you've both stated that you think there will be conversion of options (by directors) in January.

Why do you think that? If they get the benefit of capital gain without outlaying cash to convert them into ordinary shares, wouldn't that be better?

Perhaps there is a reason that i hadn't thought of? The only reasons for conversion that I can think of at the moment are where there are bonus issues, or dividends coming. It doesn't appear as if either of those situations are likely though.