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Hector
A share is a unit of ownership in a company, if you own shares in ARL you are a shareholder that paid for the right of ownership. the right to make and lose money depending on company performance.

The loyalty options being awarded currently are a privilege reward to existing shareholders.
They are not a share.
They are your opportunity (not afforded anyone else) to buy a share in ARL for 0.77c within the timeframe of 1 year irrespective of the share price.
If you were awarded 100 loyalty options you have right to buy 100 shares at 0.77c irrespective of the share price.

So lets say the share price is $3.50 on 2nd December, you can redeem your option by paying 0.77c to ARL and receive a listed share worth $3.50. Your benefit is $2.73 per share.
You do not have to redeem your option should you choose
That my friend is a gift.