MGFO - AFR Article - 12x options return

Has anyone else seen the AFR article from 9th July titled 'Nick Bolton seeks like-minded activists for Magellan battle'?

Very interesting for options holders (MGFO). Nick Bolton is seeking to raise $60 mil to buy 5% of MGF to push a wind-up vote and return cash to holders. Requires 75% of MGF holders to approve - which would seem entirely likely given the persistent discount to NAV.

In this case, MGFO holders could receive up to 12x the current value - which is on the assumption that in a wind-up the options could be exercised then redeemed at full NAV via a wind-up process. It also notes that this is a high risk / high reward play as MGFO will expire worthless in March 2024 if the discount persists.

I hold substantial MGFO so clearly I have a vested interest in this outcome - however I suspect this could be the catalyst required to see the options return to the money. It also explains the substantial price increase in MGFO in recent times.

This is not financial advice, seek your own advice from a qualified financial adviser.