I think the following spells it out pretty well, it comes from the meeting notice;
“That, for the purpose of ASX Listing Rule 10.11 and for all other purposes, approval is given for the Company to allot and issue up to 6,250,000 Shares and 6,250,000 Options to Mr Christopher Daws"
It indicates "up too" so any part of $500K I would be happy with - pretty decent premium.......
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