Ann: Underwritten Rights Issue , page-2

Hope I've got this right.

It looks like six shares for every ten held (@ $0.02) plus options on a 1 for 2 basis (strike price $0.04 - three year term).

A bit complicated but probably sound and the options allow future capital injections.

Record date is 8 June, which seems a bit strange to not have it prior to today. Will be interesting to see the effect on the share price. I don't expect it to go through the roof any time soon.