forthcoming apex distribution , page-12

Guys i hope i'm not going to be a pain here , but I read through the 14 pages and made note of a couple of things that may need clarrification .I was under the impression that there might be a return of capital for option holders ie on the basis that when they took an option over the company it was for all the assets , but half of them were being dispossed of .Is it the case that all they will get is a reduction in exercise price -if they chose not to exercise .this would seem to now place them at a disadvantage prior to the position they were in prior to the offer .