"And can you confirm that to extend my current options that are...

"And can you confirm that to extend my current options that are due to expire at the end of this month I don't need to do anything before they expire?" Your current options expire on 30 June 2016, and cannot be extended past that date. If you are holding as at that date you are being given an right to purchase the same number of NEW options at $0.05, as you held of the expired options, which expire in 12 months from the date that they are issued. These NEW options have an exercise price of $0.10. Any money you have paid for the 30/06 options, if not sold before then, is lost. You are paying new money if you take up the NEW options. Remember, you have until 24 June to sell the 30/06 options.