confirmation on resolution 5, page-14

I am with 1s1. If the intent of this resolution is to reward LOYAL option holders, rather than short termers looking to arbitrage the current difference between option and share prices, the record date may be 3 November 2010 (29 October 2010 + T3) and OBJ could take a "snapshot" of the registry on that date to determine who is entitled to the offer.

I must say I find this issue to reward option holders peculiar as most companies tend to reward shareholders, the owners of the company rather than oppie holders. Why not reward ordinary shareholders instead is my question? For example award 1 free option for every 4 shares held on date x? The effect might be the same as for the current offer as it brings in an amount of cash by a certain date. Anyone seen this type of oppie issue before?