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He has to convert all before the ICPS expires what. Today's conversion obviously indicated that he doesn't have enough money to convert so many ICPS which is >250mil ICPS (direct & indirect), that's why he sold some of his shares, get the money and do the conversion. It would take a while for him to convert all.. Furthermore, he convert it, means he has confident towards his company ma.
After he disposed his shares, he still holds 6.5% ordinary shares and >50% ICPS. If he were to convert all ICPS to mother share by pumping in own money, he need RM54mil to convert.
