Please wear fireproof gloves when reading this prospectus, page-11

Options.
(j) Reconstruction of capital
If at any time the issued capital of the Company is reconstructed, all rights of an Optionholder are to be changed in a manner consistent with the Corporations Act and the ASX Listing Rules at the time of the reconstruction.

THE OPTIONHOLDERS AT THIS TIME WERE NOT ALLOWED TO PARTICIPATE
(k) Participation in new issues
There are no participation rights or entitlements inherent in the Options and holders will not be entitled to participate in new issues of capital offered to Shareholders during the currency of the Options without exercising the Options.
(l) Change in exercise price
An Option does not confer the right to a change in Exercise Price or a change in the number of underlying securities over which the Option can be exercised.
(m) Unquoted
The Company will not apply for quotation of the Options on ASX.
(n) Transferability



The Options are not transferable.
THIS WOULD, I THINK , MEAN THAT HAVING TAKEN UP THE OPTIONS THE HOLDER CAN NOT SELL THEM AS OPTIONS

IF THE COMPANY WERE TO GO INTO AN EXTENDED TRADING HALT THEN THE OPTIONS MAY HAVE NO VALUE.
Same would occur if the shareprice stayed below the conversion price!

RB