That is incorrect - even a takeover would require a Directors...

That is incorrect - even a takeover would require a Directors Statement on a recommendation to take up offer or not.

The taking of 5M unlisted options means they have been applied to someone in the company or in the know. This is not a good sign at this time - those options could have been taken after any proposed takeover.

One needs to temper their anticipations with the facts before them. IGC is a LT splendour - but many Directors have stuffed up golden opportunities int he past.

There is more on this to come