Takeover - options, sometimes there is an offer for options at intrinsic value as well. Just depends.
The takeover value, XXX million, should factor in the fully diluted script of in the money options, so its expected that they are converted. But be careful of CGTR, resets if you convert. Best imo to sell on market if CGTR in the bag or accept offer on options if it is made. Although be mindful, if you sell on market, and there is a superior offer made, you miss out.
Ann: GWR to IPO Wiluna West Gold Project, page-55
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