Ann: Fully Underwritten Entitlement Offer to raise $1.949m, page-8

Don't get me wrong, by bypassing brokers and having shares sit in the hands of CXU's largest SH for what would be seen as 'strong hands' is great ... however ... this entitlement offer has also been structured to reduce your average price regardless if there are no fees or options. The fees on a $2m entitlement/placement/rights/SPP aren't huge and the options are always options. It is highly likely everyone will NOT participate which will benefit you more in the 'average price' stakes as you hold $2m worth at $0.045 (unless sold at a loss), and many more close to $0.02 and in the $0.01's, therefore there is no need to exercise any options (at a price much higher than $0.006 and would be silly to do so) before this entitlement offer as it is highly likely everyone will NOT participate and your % of CXU will increase.
The price of $0.006 was the low of 2023 plus 23 May 2025 was a huge volume day (the biggest in over a year), so if you backed this entitlement offer and only yourself (including your helpers) and CXU board knew about this entitlement offer ... IMO it seems a leaky ship of some sort where potentially only those who knew bought, or increased their holdings, on 23 May 2025 enabling them to participate in the 2 for 9 entitlement offer to then potentially dump the ones they bought at $0.007 - $0.009 and only hold onto the $0.006's. By also seeing the SP end at $0.009 with large volume it helps the VWAP and makes the discount seem like a bargain at $0.006.