Ann: Quotation of Options, page-18

You should really do some due diligence on how the ASX shares & options (& there are many forms of options) work.

I have some ASN & what I have written below is 'guess work' from a quick read of a couple of ann.

If you read the ASX ann from when the placement was carried out you will probably read that for every share taken up at the placement price there would be a 1 for 1 or a 1 for 2 or a 1 for 3 (etc etc) free option attached with a conversion to a full share with a payment of 3.5c by some date in 2023.
Options usually but not always have a 'time premium' which reduces as the expiry date closes in.

So if somebody took up the placement & rec'd a 'free' option then for the payment of 3.5c(a conversion) they would receive an ASN share valued on todays closing at 6c .

Nice work if you can get it - every day !!

Trading Information

	Fixed Settlement Type	L
Expiry Date	30 06 2023
Exercise Price	0.035

	First Traded	13 10 2020
Suspension Start	--
Suspension End