TAdmittedly I haven't looked at the details but I am not sure...

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Admittedly I haven't looked at the details but I am not sure you understand the concept of options, at least how they normally work. Generally there is no need for the share price to hit a target for them to be "activated". CW could simply convert them to stock whenever he likes regardless of the share price and use them to vote. From a strategy point of view though it would make sense for him or any potential takeover suitor to accumulate stock at any price up to their target amount. My view is that is why we are seeing the premium above 42c and we will see it continue to rise over the next couple of weeks. When we see change in substantial shareholder notices at levels above the 42c is when those people will effectively have to show their hand. Exciting times.

I am the Iceman!