Ann: Quarterly Activities Report-RWD.AX, page-25

Ultimately ASIC rules will dictate what happens though I have no idea what they are in this situation.
Would it require a vote? And we know who the majority holder is.
We aren't privy to the negotiations but what if the Martu were offered a stake in the LD holding company but asked for the options. In my mind this would make a difference.
What if MR put out a stellar announcement next week and SP went into the 50's, the Martu exercised and it dropped back into the 40's. How would that look?
There are risks with options.
Personally I would like to see some share price appreciation and the Martu exercising with an injection of working capital as the outcome given how this was negotiated.