can someone explain this

'This means that eligible shareholders who do not wish to take up all or part of their entitlement can seek to sell all or part of their entitlement on ASX in order to realise value for that entitlement'.

does this mean we get allotted shares we don't initially pay for on a 3-1 basis. then can trade them for a week and what we have left we can renounce or pay for.

if so then this will send the SP to 0.05c as everyone will want to get rid of their shares.

i dont understand. reading the timeline we don't actually have to pay for any shares until start of August ??