Ann: Renounceable Rights Issue Prospectus, page-58

Hi All - I've been watching SYA for a little while now and from what I can gather it appears to be undervalued and would like to purchase some SYAR. I am however confused a bit/a lot about this rights issue and in particular the 'renounceable' part.

I have a question in this context:

Scenario:
Non-holder

Can a non-holder who never owned shares in SYA make a purchase tomorrow of SYAR for 100,000 'rights' (say at 0.003 - see image below)?

And will this cost $300 to buy the 'rights' for 0.003 and the $1000 for the shares (0.01 per share) for a total for $1300?

I think the answer is yes as these are renounceable rights and can therefore be sold by other holders to non-holders, but I'm not 100% sure (obviously)..

  Thanks,
Risky