Most need an incentive to take up the offer. A firm or solid SP...

Most need an incentive to take up the offer. A firm or solid SP at least a bit higher than the price may be enough. The fact that free options are attached to the new shares (1 for 3 of the new shares) would act as an incentive too. The options are exercisable by 31/3/16 at 3c.

It depends too on what the sh thinks of the prospects of the company. Par 1.2 of the Prospectus gives some details of what lies ahead as re the use of the money and may also give a clue as to the merits.