Ann: Option Underwriting Agreement, page-8

I'm trying to get my head around this.

1. The ann says 'listed options' a couple of times, and so they were until recently when removed from the trading platform = if holding, then either convert and pay cleared funds by 5pm WA time today or abandon them or apply to Somers (I suppose).

2. Does Somers have the right to accept offers from clients after 5pm WA today or is it also bound by the cut-off time? The answer determines, I suspect, when the news blackout should end. If it cuts off today then maybe news tomorrow onwards, but if it cuts of at a later time then there should be no price-sensitive news released until after the later cut-off date so that the clients of Somers do not get an unfair advantage

3. Somers underwrites a minimum of $1.25m but no more than $1.5m. Now how does that work?

Thoughts everyone?