Pinned straw:
I would say that based on the below they have no intention of engaging in this and will be trying to avoid any activism based on realizing the value in any of the options to exercise shares at discount to NAV. I think I read somewhere that I’d this happens they are on the hook for circa 140m.
As a non premium member (I can only see this a month later) and As a guy who was named in the AFR and got a Supreme Court summons as well, being a long term holder and buying more as the share price (MGF and MGFO) dipped, Both the options were trading at 0.005 and MGF at $1.40’s. And current holder of MGF still. I didn’t see why people weren’t buying up shares in Microsoft, Google, Visa, Amazon, cash at a 25% discount.
The Options were so cheap you would have been a fool not to buy them. More risk that this happened then didn’t.