PYC pyc therapeutics limited

As a matter of interest, can I ask if anyone knows whether, in...

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    As a matter of interest, can I ask if anyone knows whether, in the event of a successful takeover offer, option holders that are in the money actually have to go through the process of converting to shares in the company, or get paid out by the acquiring company (less the amount the conversion would have taken, of course)?
    Hope that makes sense. Thanks for any thoughts.
 
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