Ann: Application for quotation of securities - MLS, page-13

I'm not sure I am answering your question, but hopefully this helps:

- During the Cap Raise in January, 100mill normal MLS new shares were issued
- IN ADDITION, each share came with a FREE option (so: 100mill new options as well... actually there were 125million because 25million options were given as payment to some consultants)
- These are all named "OD" options, which basically the holders can pay only 5c to convert into a normal MLS share at any point i time before February 2024!
- So, the the lucky investors who got them for FREE, they can either pay 5c to convert them instantly to an MLS share currently 13c (instant 8c paper profit even after today's drop in SP) OR/ they can sell the option on the market, which has a price that fluctuates just like normal shares...
- Today, the price of the "OD" options dropped a fair bit... hence some of us saying WOW, and many like me buying them pretty cheap.

I imagine there is a similar story from an earlier capital raise for the other options available "OB" and "OC" that other could tell you, but same principles and decision making can apply to those option holders: Should they sell and make some instant cash, or hold on and convert later to a real MLS share and more than likely make even MORE cash -> but that is only my opinion...

Personally - I just wish I had some options for free in the first place -> but given I have just bought a whole bunch of them because I believe in MLS future, I certainly would not be selling them at prices effectively less than the current MLS SP (i.e. price to buy + price to convert has been less than the normal MLS share price lately...)

Hope this helps.