Ann: Change in substantial holding - J.P.Morgan , page-10

re: Ann: Change in substantial holding - J.P.... Looking back through the Appendicies, it looks like Morgans bought out Sempra's options that were issued in 05/06 when the life of mine agreement was signed, can anyone else confirm this? If so, why hasn't a change in shareholder statement been given by Sempre?
The second question is, why would Morgan's want to buy way out of the money options so close to expiry? My only thought could be the impending FID, which I believe was only dependent on financing, which JP Morgan could provide. Surely this is the only information (that JP Morgan could legally know) that could warrant the substantial re-rating required to put the options in the money so soon.