Ann: Expiry of Listed Options and Priority Options Offer, page-20

Its essentially a almost free replacement for existing options to expand the shelf life by 2 years. Additionally, you can write the current ones off for a loss. The problem is that this is awarded to the ones that have the options from 2 -3 years ago but not the ones that bought into the capital raising last year.

There is a decent $ to be made assuming them targeting 5 cents exercise in 2 years. This gives them enough time to do something and I dont think they will wait for 2 years to push the price higher. The original options were free so this looks like a 20 cents play. Do what you want, but its the best time to buy heads if you want.

Also note, AVW and AVWO also has the same people behing the helm so now would be a good time to buy AVWO because a replacement is also coming there would be my best guess.