12m at 0.06c = $720k in the bank.
Assuming Eric had already converted and sold out all his, there were 12m options held between the other two directors (not Scott or Stuart). If they sold shares to pay for the exercise they would have sold around 4-5m at current sp. Expect to see an Appendix 3Y if this is correct.
Ann: Application for quotation of securities - IVZ, page-2
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