Its beyond me how a party can "elect" to hold shares that are subject to a option by another party to buy them, if that party exercises that option.
The shares sold by Clarke were subject to such option and were exercised against. Hence they were sold at the strike price (12c) and his holding reduced accordingly.
The announcements say this in black and white as well.
Its beyond me how a party can "elect" to hold shares that are...
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