anpo - question

Hey guys,

Going to be a gumby and ask a silly question. Im interested in ANPO as I see it to be in the money in the near future (just my opinion no ramp intended). Now before I make that punt I wanted to know some basics:

1. If I hope 1 ANPO does that equate to 100 ANP shares (read on investopedia that one option represents 100 shares) So when the exercise date approaches and its time to exercise the option does that mean if I hold one ANPO I have to pay 100 x 0.011 (the exercise price) to convert my option into shares?

2. The exercise date do you exercise the option before or after the expiry date, in this case 31/07/12. Also how do you exercise them?

I know most of the answers are out there but i've done a bit of googling and some of the answers I've read are to technical for my brain to comprehend. Cheers in advance if you take the time to answer me.

Regards

K