Ann: Extension of Closing Date for Retail Entitlement Offer, page-34

Taking part in the entitlement does make financial sense to me. For 17c you purchase 1 share and 1 option. For 15c you get 1 share. For dilution protection alone that extra fire power added by the option is worth it. Some here have shown they have no clue on how to value an option, yet remain vocal regardless. Once again, thats just human nature.

The value provided by the included option is lost on some. And this is normal. Exactly the same thing happened at IMU. The share price had been to 49.5c but had retreated back to the mid 30s. A CR at 30c was run. Offering 1 share and 1 option, as per all previous raises. I took my entitlement and ss many more as I could, and then a month and a bit later sold the options for 25c. Just as I had in the previous raises. In the IMUOD case, the strike price is in the mid 40c. and it has been trading head price minus 10cish for some time.

If the company does not raise the cash. the pipeline is delayed. Delayed pipeline reduces future share holder wealth. Any holder who wants to continue to hold long term is achieving a home goal but not participating.
The option is the sweetener for participating.