Ahh,
3 things.
1. As Holm puts it they are options, which can be traded (much like shares) for 'a' price.
2. However, they will finally expire at the specified date for the specified amount.
3. Why have them expire so far away? They cost 1c per option, if they expire in 6 months time, you would be making 300% in 6 months... outrageous yeah? Especially consider you make 8ish% with CBA shares. Hence the longer term.
Hopefully that gives you a good basic idea.
R1
Ann: Letter to Shareholders, page-6
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