update announcement, page-43

The way these options have been set by mnm is going to create a lot of interest. Here is a few reasons why:- the options are free attached, could have had a cost of 1c
:- they are a 1 for 1, could have been 1 for 2 or more
:- they have a full 20 months to expiry
:-they have a conversion price which is ridiculously low in respect to the spp price of 9.75, could have been anywhere around 15c.
So IMO these options are a great if you get hold of any great number of them, there's the rub. For an unsophisticated investor like myself to pick up 100,000 options in the spp I would have to have held 1.2 million shares! They are a very generous option but the one for twelve allocation of shares (and hence options) under the spp meant small holders will get few.
On the flip side, the underwriters and sub-underwriters will be allocated options on a one for one basis. That is one option for each share they make up in the shortfall. None of this one for twelve stuff for them.