ed b. Coco Ltd and Coni Ltd own 80% and 20% respectively of the ordinary shares that carry voting rights at a general meeting of shareholders of Kingdom Lid Coco Lid sells half of its interest to Gong Ltd and buys call options from Gong Lid that are exercisable at any time at a premium to the market price when issued and, if exercised, would give Coco Ltd its original 80% ownership interest and voting rights. At 30 June 2018, the options are out of the money. Required: Discuss whether Cornelia