@mattyarty -- Totally agree that options will lapse, its a no...

@mattyarty --
Totally agree that options will lapse, its a no brainer.
Why would a business take up options that are significantly higher than the current share price? They could be on the market right now buying shares if they wanted to take a key stake holding in the company.

That is right they could be buying up now (Newmarket), if they intend to let the options expire. They (James Douglas and Newmarket) got until the expiry date (or if it needs to be bought before a blackout period - 31st Dec 2018) to make that decision (4 months).

Also, it would mean, if they didn't take up the options and where going to buy up at market price... well James Douglas would have to disclose all the transactions as indirect holdings through Newmarket and it would be difficult to pickup 25 million shares on-market without setting prices higher or most holders would sit on them. Unless there was a panic or continuing poor performance into the future. But, Mark Burgess seems to be setting it up to go higher, although I think the options are the last piece of the plan.

That is why, I'd suspect there will be a placement to Acorn then Newmarket take-up options. Just wait till expiry. I got a hunch. 4 months bro GLTAH