I'm guessing they want to buy rights to buy 1.1c shares.
I sold most of mine today. I figure I should be able to buy on market for close to 1.1c, and it's underwritten so they don't need my help. It's difficult to imagine people not wanting to take up their 1.1c shares (I would), and it's difficult to imagine there being a lack of people happy to take a quick 20-40% profit.
Good luck to all!