PAA, A New Dawn , FDA ODD Approval and Entering Phase II MND Trial, page-887

Here's a ChatGBT response in light of the varying answers above:

In the event of a buyout or takeover of a listed company in Australia, what happens to the options depends on the terms of the options agreement and the specific details of the takeover. Here are some common scenarios:
-Cash-Out: The acquiring company may offer to buy out your options for a cash amount, typically equivalent to the difference between the takeover price and the exercise price of the options. If the options are "in the money" (the exercise price is lower than the takeover price), you might receive a payout.
-Conversion: The acquiring company might allow you to convert your options into options or shares of the acquiring company. The terms of the conversion will depend on the terms of the acquisition and the specific details of the options agreement.
-Acceleration: In some cases, the options agreement might include an acceleration clause that allows you to exercise your options immediately upon the announcement of a takeover. This means you can exercise your options and either sell the resulting shares to the acquiring company or hold onto them, depending on the terms of the takeover offer.
-Cancellation: If the options are "out of the money" (the exercise price is higher than the takeover price), they may be canceled without any compensation, as they do not have any intrinsic value in this scenario.
-Alternative Offers: The acquiring company might provide alternative offers, such as a combination of cash and shares, for the options holders.

To determine the specific outcome for your options, you would need to review the terms of your options agreement and the details of the takeover offer. Additionally, it's often a good idea to consult with a financial advisor or legal professional to understand your rights and options in this situation.