Ann: Entitlement Offer Prospectus & Appendix 3B , page-3

re: Ann: Entitlement Offer Prospectus & Appen... Haven't had the time to read all of this yet, but it looks like you don't need to have been a shareholder on the entitlement date of the SPP to be entitled to the options.
Is this correct?
I.e. could we expect buyers on market from today (until the record date of 21st of May) who purchase ordinary shares in order to buy options then, potentially, sell ordinaries after they receive notification of options?

Would have been interesting if the record date was the 17th. Could have spiked the SPP price after everyone sent in their orders. But that would be too sneaky.
So they've given us 2 trading days after the SPP VWAP period.