it means that for each share you hold you are entitled to buy one share @30cents and receive a free attaching option.
So if you hold 10,000 shares at the record date, you shall be offered to purchase up to 10,000 shares at the post consolidation price of 30 cents each and receive a free option.
hope that helps.
cheers
HCY
halcyon group ltd
results of agm, page-12
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