strange that DIO cancelled employee options with a strike of...

strange that DIO cancelled employee options with a strike of $1.75 and then KPMG come out with a valuation of $1.88.

I wonder who did the calculations that suggested that the $1.75 was not achievable?? seems mightly inconsistent. If $1.75 was deemed to be unachievable in 2012 how can $1.88 be achievable now?


5th March ASX release :
CANCELLED "330,000 exercisable at $1.75 by 1/12/2012"