Ann: ATL1103 Higher Dose Study-ANP.AX, page-29

It is a roundabout way of keeping existing holders options alive

For instance to try to make this clearer

Andy for instance or Gassy whom have a boat load of these

Say you have for arguments sake 5mill oppis at an average because you have purchased more than your original allocation

Lets say average  5mil @ 3.5c not to unrealistic

So your purchase as of now today would have cost you the sum of $175,000.00

This $175,000.00 on expiry will be lost  GONE FOREVER TAX RIGHT OFF

you will then, if you take up your full entitlement pick up your new options for a total of

5 mil  x .002c =   $10,000.00

so for an existing option holder to break even

IE To recover your loss and your new purchase cost

Your option break even price would be .037c   FROM  ISSUE PRICE  OFF  .002c

OR

if you were to convert to heads the heads would have to sit @ 11.7c break even

Hope this helps those confused

Someone mentioned this as a sweetener

In the above scenario to carry a $185000.00 loss forward is not what i would exactly call a sweetener

BUT it is better than losing out altogether which would have left a very bitter taste among all of those holding rather substantial amounts

SORRY

DOES NOT CHANGE MY VOTE