Options - TAS and EDE, page-3

yeh, thats a big outlay to exercise those TAS Options.
TAS already has absolute Control of EDE via its 521m shares or 37.8%.
then add on EDE Directors holdings in EDE is 76m or another 5.5%.
So TAS and EDE board hold at least 43.3% of EDE.
Given that bugger-all s/h vote, then nothing happens at EDE without Board agreement.

TAS holds about 65.5m EDEO (93m less conv 20m less conv 7.5m).
So as you rightly point out, TAS needs $1.965m (say $2m) to Exercise EDEO by Sept 2018.

TAS could easily sell 20m EDE ords at say 10c and raise the $2m needed.
That would get new funds up into the business which is EDE (not TAS).
TAS would lose 20m EDE shares, but raise funds to exercise Options to gain 65.5m new shares.

Depending on just how many other EDEO are exercised, TAS's Control of EDE will very likely increase.

Given that EDE was able to Place shares at 11c recently, I can envisage that Insto's might be still keen to acquire another 20m EDE shares from TAS at say 9c to 10c?
That could be done in an Offmarket sale. I don't think there are any rules about that??

cheers