Appreciate your thoughts as I wasn't entirely sure myself d)...

Appreciate your thoughts as I wasn't entirely sure myself

d) Consideration
The Director Options will be granted for nil cash consideration. Accordingly, no funds will be raised by their grant however funds will be raised in the future to the extent the Director Options are exercised. Relevantly, the exercise price of the Director Options is the price that is the VWAP calculated over the 10 trading days on which trades were recorded on the ASX preceding the date of grant plus a 17.5% premium. On the assumption that the Director Options were issued on the date of this Notice of Meeting, the exercise price of the Director Options would have been $0.342 (based on the 10 day VWAP of the Shares up to and including 15 October 2021 plus a 17.5% premium) and a total of up to $1,453,500 in funds would be raised by the Company upon exercise of the Director Options.

I think those calculations in Schedule 2 are indicative of if the options had been granted at the date of the Notice of Meeting (15th October), but the actual date of grant will be after the AGM once approved by shareholders