Yes, this is a likely possibility IMO. See the following post from a few days back:
https://hotcopper.com.au/posts/75032991/single
Essentially in the TSK/PAR(NYSE) scheme of arrangement prior to the TO, TSK basically had to eliminate all options, deferred share rights etc for the TO to go ahead. Not saying that's what's happening here, but it could be.
IMO, DYOR.
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