non-renounceable, page-4

you can sell the new 7000 shares as soon as they are issued to you.

The words "non-renounceable" don't refer to the new AWC shares. They refer to the right to buy the new shares. In a non-renounceable issue, you cannot transfer the right to buy the new shares to anyone else. Either you buy them or you don't.

In contrast to this is a renounceable rights issue. In a renounceable right issue, the company first issues to you 7000 rights, each of which allows you to buy one new share for $1 each. You can "renounce" that right, by selling the rights to somebody else who wants to buy the new shares. For example, if you didn't have $7000 handy, someone might pay you 20c per right to buy that right from you. That person would pay you $1400 for the rights, and then send the $7000 cheque to AWC to buy the new shares. From their point of view, that is slightly cheaper than buying on market.

Either way, once you actually get the new shares, you can do what you like with them.