Correct me if wrong but from reading through the cleansing notice (Sec 2.2):
Platinum had 112.5M options @ 1.6c with the provision that 37.5 M of those were non-excercisable (i.e 70M exercisabletotal) as a result of last debt restructure. They sold half of these to AGRI (the half with restrictions applied) and have just converted a portion of their remaining 37.5M (with no restrictions).
The option breakdown table (and in particular note 2 and 5) make this a little more clear imo.
Ann: Change in substantial holding, page-8
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