Yup indeed very strange, yet the terms are clear :
"Each Convertible Note holder will receive 1 listed option (with an exercise price of 2.5c and expiry date of 31 December 2018) for each 2 shares that they will receive at the conversion date
(30 November 2017)"
and then the contradiction of that statement :
"Resolution 8 is an ordinary resolution which seeks approval for the issue of 181,217,568 Shares and 135,913,176 Options on the conversion of the Convertible Notes held by Non-Related Convertible Noteholders and/or their nominee(s)"
1 option for each 2 shares should equate to the issue of 90million options not 135million options
did anyone contact management and received an answer on this question ?
Chart_TA, page-25
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