The Final Charge , Phase I/II MND Results & FDA ODD Approval Catalyst, page-389

"............ Are there any tax implications? Anyone? .............."

Howdy Baulko. Yesssss - tax in the form of CGT is an interesting one. My understanding is when you convert the oppis the CGT clock is reset. So just as a scenario (if I have the right handle on it) to be careful of would be sell some heads to pay for the oppis - if you have held for 12 months then great you get half rate CGT. Now use those remaining funds to convert the oppis. On the other hand no TO within 12 months would means CGT basically same all scenarios. If a TO comes to fruition within 12 months of that date you will cop the full CGT so suggest this would / should be factored into the arbitrage options.
Obviously, management would now like to see the oppis converted and we can see that has already been started. The original driver was to thank and support existing holders and when that did not play out management reasonably came up with a way to compensate holders by offering the new half cent round. For the company this means if and when they are converted those funds go into working capital of the company. It takes money to raise money so these funds will become important as we move forward towards a trial date start stated as Jun/July. All part of the bigger picture.