ann out, page-3

nood,

it's purely a 'legal' scenario to cover the 'vendors' of the last share/option placement.
Basically it means that a "total" of 2000 shares and 2000 options are going to be issued @ 25c placement, but as per ASX rules (God Bless them) they have to be offered to every share holder. The bottom line is that it is a waste of time (not to mention money) to apply.....but they are the rules (it's a pity the company couldn't just simply buy these out of petty cash and save at least $5000 in fees, but once again "they are the rules").

Trust this helps