Ann: Change in substantial holding, page-26

If there is no takeover the options remain listed at the same ex price, if she gets 100% they then have to pay for them and then get the balance back from Gina so at the current bid that wont happen and they will all lapse as they are in the loss red by a lot.

The option holders interest is in that Gina doesnt win and AGO multibags well above the option exercise price so they will be in the black and they can then pay AGO and cash up on market.

I presume at this price on this bid if it wins (unlikely) the options are effectively worthless and dead in the water. If the bid fails and AGO rockets, the options become valuable and tradeable.

So the optionholders should want Ginas bid to fail imho.