Ann: LKE Bonus Issue to Shareholders, page-95

Shares will likely not be locked up, they turn into ordinary shares once exercised.

As for whether it's a good or bad thing. It's more good then bad, you get the option to participate in a psedo capital raise, at the same price as insto would (and my guess is that's who it's really for).

The more I think about it's probably designed to get the insto who bought Steve's shares in at cheaper price, as people pocket the difference between the options and the share price, and that insto will be sucking up the shares. Just my guess, will be proven right when/if they become substantial.

IMO DYOR etc etc