This announcement is for the quotation of the options, not the exercise of the options, so no extra cash in the kitty just yet.
My understanding is that this announcement is for the 20m options that AZL issued as compensation to the parties who managed the CR (Evolution Capital and PAC Partners). Page 5 says the options were "Issued as part payment for broker services".
The market is valuing the options at 3c now so essentially AZL paid $600,000 in transaction costs to perform the CR. Thats 4.6% of the $13m raise which seems pretty standard for this kind of CR. I'm not sure if AZL paid any other cash fees for transaction.
Ann: Application for quotation of securities - AZL, page-3
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