Ann: THC Global Quarterly Update & Appendix 4C, page-98

Those that bought in at IPO had 1 attached THCO for each 2 shares purchased.
So Xu got them as part of his companies initial investment as@Hsien84 stated.

It's only August, a full 4months+ till expiry, lot to play out & if SP doesn't rise to what some, me included hope & oppies don't get converted, well bad luck to us on that part of our THC investment.

Got my kleenex ready if that's the case.

you should change your alias from qqqqqqqqq to CRCRCRCR