Ann: BARD1 LODGES SPP AND OPTIONS PROSPECTUS, page-12

Well this depends on what you estimate the share price will be in the the period up to and including 24/8/2023 due to the attached options.

For example, if you estimate a share price on (say) 1 August 2023 of $2.76 then those options will be worth an approx. $0.44 ($2.76 market price - $2.32 option exercise price) on that date, which when divided by 2 (because 1 option attaches to every 2 new shares issued under this offer) effectively makes those shares issued under this SPP to be $0.22 better value than what they currently are. So in this scenario, yes it would be worth buying into the SPP.

If you do have a view that the share price will trade above the option exercise price at some point between now and 24/8/2023 then another scenario would be to hold back from the SPP, buy shares on market now at $1.45 and then buy the options on market when they commence trading in the hope that the options do not trade at too high a price between now and 2023 that would erode that $0.10c per share gain that you are getting now (which would be approx. $0.20 per option).

And if you don't estimate that the share price will get above $2.32 at any point in time between now and 24/8/2023 then you probably should be looking to invest your funds elsewhere altogether.