agentm, yes seems that TXN has just three directors and that...

agentm, yes seems that TXN has just three directors and that Foss is not a board member (unless web site is out of date). Boards have a duty to shareholders, so any give away of assets is very unlikely. (But an unrelated slight concern that Mason is Wandoo Energy -- potential conflict of interest being a major supplier, I think).

Clarification of my earlier comment on section 3.2 (b) (iv) -- change of control of TXN allows Foss to receive 6M shares at 70 cents without the need for shares to rise to $1.05.

Overall, whether the options motivate selling TXN assets after 1st Sep depends on interpretation of "MAY be exercised" in (iii)(A).