Ann: Non Renounceable Entitlement Offer, page-41

i reckon punters wouldnt have any trouble getting into part of the shortfall.

I would say the new option would trade say at 0.1c on the 0.4c, but 1 for 2. Makes it value at 0.05c
Makes the cost of the right at 0.4c, if you sold the option on market, to only 0.035c

If i took my rights up, my av would be 0.7c with the option value offset.

Which would be a bet stake on a company with say 2b shares of 14m to break even in my case, and trading at 8m mc. Thats not too far underwater to see some daylight.

Betting on the new options to come into the money is then at 20m mc, turn FD 25m mc.
That would be achievable, IMO come off take finance. And around where my break even is if i do nothing.