For every 15 shares you hold of March 23, you get 1 option.
You exercise the 1 option by 22 April by paying 35c. So you get 1 share per each option exercises which will already be in the money assuming the price is above 35c (hence rewarding SH as of 23/3/22).
In addition to the one share, for 2 options exercised by 23 March 2022, you get another option which will expire by 28 April 2023 with a strike price of $1 which can be converted to a share of IHL.
That’s how I understand it.
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James Graham / Dr Alan Dunton, MD & CEO / Non-Executive Director
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