Think you will find in the case of a takeover that there will be a separate takeover price for the option - in this case it would be 3c lower than the price offered for the ordinary shares.
AL8 From the Floor question: "What is the focus of AL8 and how is management going to attract shareholders to the registry?" | Alderan Resources
FEX From the Floor question: "When will FEX start using rail to augment & de-risk their haulage solution?" | Fenix Resources