AP Ltd holds 30% of the substantive voting rights in PLE Ltd. AP Ltd also has options that allow it to obtain additional voting rights in PLE Ltd as follows: - 16% from currently exercisable in-the-money options - 5% from currently exercisable out-of-the money options - 9% from options exercisable in two years time. In this scenario, the relevant amount of voting rights for the assessment of control is: