Rights Issue, page-23

Can I ask a question about the options. I apologise if this may seem a bit simple but I dont have a lot of experience. From the discussion in this thread, I assume the options will have their own ticker code & can be purchased and sold and sold on market? (is this correct). Also lets assume the company starts to do well & the share price rises to say 4c in the medium term and the future prospects look really good (probably dreaming). Can I actually convert the option to an ordinary share. If so, Is the April 2027 date the latest time I can do this (options expire on this date) or is that the earliest date I can convert to an ordinary share. How would an option be convered to a full ordinary share?

Also an unrelated question. I have a sell order at 1.2c -my plan was to sell & rebuy in the cap raise but with the attached option (yes I was too slow in putting in the order). Failing a good annoucement by the company (unlikely), am I correct in thinking there is near zero chance that the share price could get back up to 1.2c. Should I not be greedy and just sell at 1c - and at least I have the options attached to the same shareholidng I currently have (Im not in a position to increase my holdings - so I accept i will be materially diluted - but I guess with the options -there remains hope for a recovery of my position in the future).

Your view are appreciated.
thankyou