what happens to the options, page-9

Hi Propergeez,

No it was via acceptance of the offer, effectively a takeover ... in my experience there is little practical difference between a hostile 'takeover' and a 'merger' with the support of both boards, except in the terminology used to present it. Mergers tend to be a purely share offer no cash. LNC will need to make an offer that is attractive enough for SXP holders to accept.

Legally it may be a bit different if it is done under a 'scheme of arrangement' rather than a takeover but still not much different from a shareholder point of view.