On 30th June we have 12o mill option conversion ..so called underwritten with no cancellation conditions.
Withshare at 9.4c and underwriter getting 5%fee...so they have to cough up net 9.5.
KRCOA now in 2+ I would not to be a holder. As conversion time nears I doubt these will be in the money.
Not sure the how deep pockets the underwriters have.