Are my calculations wrong ?, page-3

I note with interest that one of the agenda at their AGM is the following:

"That, for all purposes, the Shareholders authorise the issue of up
to:

(a) 17.5 million Shares at an issue price of 20 cents each to raise
up to $3.5 million; and

(b) 17.5 million free Options to acquire Shares, on the terms set out
in the Explanatory Statement."

With their current share price of 10.5 buy 11.0 sell, who is going to pay 20c?
Or is something in the wind?

GZ