Can some one confirm this is correct or correct please correct...

Can some one confirm this is correct or correct please correct me.
I have 1.5 mill shares and @ a 1 to 11.5 entitlement offer
i will be entitled to apply for at least 130435 shares @ 5 cents that will come with 1 unlisted option for every 2 shares purchased excisable at 12 cents.(receiving half the purchase in options)

Q) Entitlement offer
A) Can i send computer share overs e.g. $12.5K for 250K shares and i will receive entitlement at least and most probably the full amount. ( or funds will be returned if not)
B) + most probably be able able to apply for the shortfall before December 2nd.
e.g. sent them another $12.5K

Q) Options (is this how these ones will work)
The option will not be listed so i cant sell on market ?
I will need to convert them at 12 cents before expiry date ?
e.g. convert at 12 cent sell when we are @ 24 cents for 1 bag?