call for funds., page-4

Options are just that. The exercise of the option is at the election of the holder and not the company. Therefore, the holder can exercise anytime, including today, up to the expiry date.

The partly paid shares are different instruments. The payment of the funds is at the election of the company with suitable notice. If you hold partly paid shares, the choices will be to set some funds aside or otherwise organise finance for the eventual call, or switch to the fully paid when you can. Just my reading of the situation…