Ann: Application for quotation of securities - CLZ, page-42

I might get this wrong,but I'm trying to understand this. The loyalty offer, disregarding the piggy back options is meant to raise like 5 million if those shares are purchased at .05 cents and they have outlined how they would spend that money. But surely no-one would be buying loyalty options at twice the price of the current sp price,or does the price of loyalty options if bought at that price,retain its value...As I said,I may be way off in trying to understand this