Thanks Youngie... here goes. In the Annual Report 2019 "the...

Thanks Youngie... here goes. In the Annual Report 2019 "the Company issued 271,076,923 ordinary shares under a share placement to
professional and sophisticated investors at an issue price of 0.65 cents per share raising $1,762,000 before costs. Participants in the placement were issued 3 listed options for every 4 new shares subscribed resulting in 203,307,712 listed options being issued having an exercise price of $0.012 cents and expiry date of 30 November 2020."

I've scoured the ADN website but cannot find anything that provides context for the Appendix 2A or how it will be carried out. In this latest Exercise of Options @).12c is this only offered "to professional and sophisticated investors" who I gather are large scale institutions or holders of large share portfolios? Also what is the difference between listed and unlisted options?