After some research on this matter I have found a document from Minemakers Limited in which there was a similar event. @strauss is correct.
In accordance with Listing Rule 7.22.3, the number of Options on issue will remain the same however, the Options are required to have their exercise price per Option reduced by the same amount as the amount returned in respect of each Share.
Please read the following document. Page 6 has Resolution 1 which illustrates their in-specie Distribution of TNT Shares.
Minemakers Limited - Notice of General Meeting
After some research on this matter I have found a document from...
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