Only one feasible scenario IMHO - that is M&G want out and Chatchai wants in (takeover).
May as well get as many as he can before the takeover premium is added.
Troy would be absolutely shattered by this scenario - takeover in low 50s would leave his 2 mill + holding out of the money and his incentive share potential disappears. Chatchai cleverly taking advantage of the low oil price and getting the company at a fire sale price.
Absolute tragedy !
Only thing that can save shareholders now is a competing offer.
TAP Price at posting:
37.0¢ Sentiment: Hold Disclosure: Held