1 – “to exercise all your Options using the Cashless Exercise facility and sell to xxxxxx all Myfirm shares so acquired”

or

2 – “if you do not wish to exercise any of your Options and want them to lapse on completion of the purchase by xxxxx of the entire issued share capital of Myfirm”

given that I don’t want them to lapse – I think I should go for number 1?

Guessing this is from a save-as-you-earn scheme ?

Option 1

Which should then give you further options…

To sell…. via the company providing the scheme

To Hold…. via that same company

or

To move the stock to your preferred share account/stockbroker

Its not save as you earn – our company has been bought out

Dunno then

I’m no expert but lapse generally means they’ll disappear. If these are options that have been given to you by your company (for good performance etc), most tend to have a date they expire by.

I would go option 1 but you should have a stock admin or hr dept who can advise you better than teh interwebz