Announcement 01-Oct-2024, page-10

"Unless we go to IPO"
Ding still cannot do anything with this issue of new shares for 12 months.

"and" immediately before "(ii)"
It's not "or".


https://aust-sino.com/Investors-Media/Capital-Structure
5,754,856,762 shares prior to this event.
6,096,786,727 after the issue.
Translates to a 5.9% diulution for the rest of us.

Ding obviously has faith in the future, otherwise you'd take a cash $4.4M payout instead, and run!