Ann: Commencement of Rights Trading, page-46

Pkenn ... Entitlement rights are trading for a few days and this allows existing shareholders who can't or do not want to participate in the CR to sell their entitlement rights to others (usually non holders at the moment but who want to participate in the CR). If you are a holder you have an entitlement and you can either take it up by participating in the CR (buying a share at 5.5c and getting 2 free options - one short term and one long term - for every 3 shares bought in the CR) or decide not to and renounce and sell your entitlement to some one else. Hope that clarifies it for you. IF anyone has questions just contact me.