Ann: Non-Renounceable Rights Issue Eligible Shareholder Letter, page-25

For every 4 shares you can choose to get 1 option which you pay 1c for. This option can be exercised at 10c ..... so you'll only do that if the SP is north of 11c .... otherwise you're in the red. So if you think the SP will hit that price before the options expire (on 31 Dec 2019) .... then go for it. Current trading is EX which means settlement on any trade will now not occur to allow for new holders to be on the Register by market close 5pm WST 30 Oct. That is my understanding but happy to be corrected.