On $1$ April $2024,$ Jade Ltd holds a substantive deep$-$in$-$the$-$money option to acquire the majority of shares in Darcy Ltd that is exercisable in $25$ days. The earliest date the existing shareholders of Darcy Ltd can call a special shareholders$$ meeting to change the company$$s policies on its relevant activities is in $28$ days. Based on these facts only, does Jade Ltd have the power to control Darcy Ltd as of $1$ April $2024?$

Group of answer choices

Jade Ltd has the power to control because the option can be exercised before the earliest date that a shareholders$$ meeting can be convened to change the company$$s policies on relevant activities.

Jade Ltd does not have the power to control because the option only represents potential voting rights, not real voting rights.

Jade Ltd does not have the power to control because the option has not been exercised.

Jade Ltd does not have the power to control because Jade Ltd will suffer a financial penalty if the option is exercised.