The Options are given to you free of charge as part of the SPP. If you want to convert your options to shares then it will cost you 11.8 cents per option to convert at any time before the expiry date. Once 4pm on the 31st Aug 2026 arrives the options will have no value.
As Footy said you can sell/buy the options anytime after they are issued up to expiry date.
Ann: Placement and Share Purchase Plan Update, page-139
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