If you look at page 22 of the prospectus there will be 592...

If you look at page 22 of the prospectus there will be 592 million options on issue if there is 100 per cent take up in the rights issue.
You are correct in that not all of these will be in the hands of shareholders.That number is still 270 million or a potential of
$5.4 million that can come in from the public..The balance of the options have been used to line the pockets of the non performing directors!
The options being issued this time have the same terms as the placement and issue late last year so any application for listing
would cover about 270 million.
I am not sure if there are a sufficient number of option holders to qualify for listing.This is what is known as the spread.I think it has to be about 200.
This is easily rectified by a broker taking a parcel and spreading sufficient to qualify for listing.
Given that there are about 18 months to run I suspect the options could become popular among traders.