Of course they don't have to take up the options.
But the terms within the sheet should they exercise it are.
'A mans got to have hand', vintage.
There's a reason they wanted 30%
It wasn't because they could see capital growth in the sp occurring.
They want some control.
And on another figure.
The discount on the sulphate is 'modest'.
We have no idea what 'modest' is. Can we call it 1% for the sake of it?
Let's say $3 bil in product to them.
Saving = $30,000,000
Dec 31st D-Day, page-91
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