ua new issue at 3 cents, page-6

an SPP is an offer to shareholders to purchase up to $5,000 of additional shares in the company. (although ASIC is looking at increasing this to $10,000). an SPP is a quick and easy way of raising capital but if there are not a lot of shareholders on the register then the amount that can be raised will be low. assuming URA has about 1,000 shareholders on their registry, then they they could only raise $500,000

a rights issue is also an offer to shareholders to purchase additional shares in the company but based on a ratio of how many they currently own. in URA's case it is one for one so if you own a million shares you can buy another million. it is more complicated for the company and a lot more time consuming as a prospectus needs to be prepared. however a lot more capital can be raised.

URA has made an offer to its shareholders to subscribe for 1:1 (at a nice little discount of basically half price) as well as giving away 1 free option for every 2 shares bought. the option has a strike price of 8 cents and given the share price is moving north, it looks as though it will be well in the money. you have the choice to sell the option on market or if the share price goes over 8 cents then you might choose to exercise the option and purchase your entitlement at that discounted price.

hope this explains your query.