demerger - more than a gleam in the eye, page-40

Re options - I dont get the continual denigration. Is it not the situation that those granted the options thereby get the right to buy Txn shares at 105cts provided the SP has exceeded that figure for a lengthy period.

Seeing that the SP is now ard 39cts I dont see that as any big deal & the current market value of the options if they were quoted wld. be zero.

Were the option issued at 40/50 cts exercise , I cld see some reason for complaint.