My reading of that is because Ross and Washer put up $100,000 themselves and the loan was for $900,000 the $100,000 worth of 40 cent options would amount to 250,000 shares each - which were not purchased by loan funds but were self funded and so those 250,000 could (in Ross case anyway) be sold to fund the 200,000 (17 Nov 19 $1.022) options - if there wasn't otherwise a block due to being unable to trade whilst Sumi talks are happening.
It may be that the exercise of performance options that would otherwise expire might get an exemption from the general prohibition on not trading whilst in possession of market sensitive inside information (like a deal). Not sure I need to check.
CYP Price at posting:
$1.63 Sentiment: Buy Disclosure: Held
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