Ann: Proposed issue of Securities - CRO, page-247

Just got this from igmarkets. Does this mean I have to buy the shares before igmarkets expire date?

Dear Client,

Cirralto Limited have issued a rights issue offering shareholders the right to subscribe to new options in the company at the ratio of 1 new option for every 4 shares held, at a subscription price of AUD 0.001 per option. The rights are not expected to trade.

Options are exercisable at AUD 0.025 anytime up to expiry. Options expire 28 Jul 2023

If you wish to participate in the rights offering, please instruct by replying to this email from your registered email address before IG Deadline is 12pm AEST 24.09.2020 (Please ignore the expiry date on the contract of the position booked on to your account as this is for administrative purposes only).

Please note: If we do not hear from you before the deadline, we will lapse your entitlement as the default course of action. If you decide to take up the rights or oversubscribe, the funds will be deducted from your IG share trading account post IG deadline. These funds will be reserved until the new shares are issued under this offer. There are no brokerage fees charged for taking part in this Rights Offer

Your options are:

Do nothing. The rights will lapse (Default).

Take up the rights. Please reply to this email before the deadline.

Oversubscribe (subject to scale back). Kindly mention the exact number of shares you wish to oversubscribe.