Balance option


If the Option has been exercised only in part the Grantor shall, unless it is prevented by statute or applicable regulations from doing so, issue a Balance option Option Certificate, together with a further blank Notice of Exercise form to the Participant in respect of the unexercised portion of the original Option. A Balance Option Certificate shall state the remaining number of Shares over which the Option remains capable of exercise and shall be in such form as the Directors shall from time to time determine.

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The Option Certificate or any Balance Option Certificate previously issued to the Option Holder shall also be lodged with the Company on the exercise of any Option or any part thereof. If such resolution is duly passed, Option Holders who have previously exercised their Options or who do so during the said period of twenty-eight days having duly delivered payment therefore and having delivered their Option Certificate or Balance Option Certificate shall be entitled to share in the assets of the Company but all other Options shall lapse.

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