new significant valuation increase u.s report , page-7

Largely uncommented upon so far is the reference in the explanatory memorandum for the final EGM resolution re the issue of 60M future securities to 'shares and options'. Given where the share price is at, irrespective of the Arrowhead valuation, I wouldn't be surprised if the proposed 7.5 cent issue price shares have accompanying options thrown in to entice the take-up. It may not be 1:1, perhaps 1 option for every 2, 3 or 4 shares, so more cash is raised, but that's the only way I can see to get take up at prices twice the current market value.