"non-renounceable" means that you cannot trade your right to buy...

"non-renounceable" means that you cannot trade your right to buy the options. For example if you have 10,000 shares you have the right to purchase 2,000 of these new options.

If you chose not to purchase them, you will lose the right to buy them, and even thought they will have some value, you cannot pass on or sell that right to purchase to someone else.

that’s what non-renounceable means.

If you purchase the options they will be traded on the ASX, just like the current options that were non-renounceable also.

Hope that helps.