Ann: USA Institutional Share Placement, page-67

Stag -

If you elect to take up your non-renouncable rights you receive the 11.5 cent - 3-year Option, which will be listed.

i,e:
Step One - you receive in the post the non-renouncable offer (1 for 4 option right).

Step two - you write out a cheque/TT 0.01 cents per non-renouncable right you receive.

Step Three: you are allotted listed 11.5 cent Options.

No different in concept to last July's 1.5 cent capital raising which was a 1 for 2 non-renouncable offer with a one for 3 free option.