As an outsider looking in it looks as though MEL excercising the...

As an outsider looking in it looks as though MEL excercising the options was in the best interests of BYE.

But looking further i guess BYE needed the money and MEL already have a holder in BYE so were dammed if they did but dammed if they didn't.

I guess MEL took the option that buying a few cents under market was better than BYE having to raise further capital at a more substantial discount which could of impacted MEL backing via existing shareholding in BYE. A stange turn of events just goes to show how close both companies are sailing to the wind in terms of funding ....