MCT : OFFER, page-11

Hi fellow forum users. First post on HC but been following for a while.
Held MCT shares for close to 2 years and sadly watched the value dropped but hoping for some light at the end of the tunnel once this nex fiasco comes to end.

I'm very much a noob to investing and know little about the stock market so please excuse my ignorance and silly questions!
Just received an entitlement and acceptance form from MCT for acceptance for entitlement to new shares on a 2 to 7 share basis for 0.05 per share.
In simple terms could I please ask what this means and do I need to pay the amount requested and will it impact my holding if I chose not to?
Many thanks in advance for any advice.