Ann: Appendix 3B, page-8

TONOB and TONOC are both call options.
as a holder of the options - you have the right to buy fully paid shares from the company directly... at the strike price - which is 11c and 12c per share respectively.

all you have to do is download the options form from computershare (or ring TON) and send them a chq for the new shares.

you have the right to buy them for 11 and 12c - doesnt mean that you have to buy them.
if fact the expiry is in December - so unless the shareprice goes above 11 and 12c - you'd be better off buying shares on market.

TONOB and TONOC are tradable options and are listed on the asx..... i think current price to buy TONOB options is about 0.5c... which means that the share prce has to go over 11.5c to be 'in the money' and worth converting to fully paid shares.

whomever converted 50k worth of options for fully paid shares - either knows something that we dont... or is misguided.... as he/she has just paid a hefty premium