Grant of New Option. A New Option may only be granted: (a) if the total Market Value of the Shares which were subject to the Old Option immediately before it is released is equal to the total Market Value of the shares subject to the New Option immediately after it is granted, rounded down to the nearest whole share; and (b) if the total amount payable by the Optionholder to acquire all the shares subject to the New Option is equal to the total Exercise Price that would have been paid to acquire all the Shares subject to the Old Option, rounded up to the nearest whole cent.
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Sources: Rollover Option Agreement (Zapp Electric Vehicles Group LTD)
Grant of New Option. A New Option may only be granted:
(a) if the total Market Value of the Shares which were subject to the Old Option immediately before it is released is equal to materially the same as the total Market Value of the shares subject to the New Option immediately after it is granted, rounded down to the nearest whole share; and
(b) if the total amount payable by the Optionholder to acquire all the shares subject to the New Option is equal to materially the same as the total Exercise Price that would have been paid to acquire all the Shares subject to the Old Option, rounded up to the nearest whole cent.
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