From my reading of the option expiry notice it looks like management has tried to look after the Option A holders.
They applied to the ASX for an extension which was declined now they will give you 2 options for every 5 held plus the opportunity to purchase additional options at 0.019 for any short fall of those who dont convert their A's to OB's.
Ann: Offer to RLEOA Option Holders, page-3
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