No, underwriting only applies to listed options.
First paragraph: https://www.asx.com.au/asxpdf/20181120/pdf/440ghs806g64sv.pdf
"...to underwrite 37,500,000 listed options....".
Given that the unlisted options are mostly for the directors, it would be odd for them to underwrite those as well.
Anyway, we're well under that now, which is a good sign.
Cheers
Ann: Appendix 3B, page-4
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