what is resolution 5 re objo?, page-17

I think the more we all talk about this the more confusing it sounds, but when I read the announcement the first time it seemed pretty straight forward.

Current OBJO expire on 31st dec 2010. If Res 5 is passed, OBJO holders get a 1 for 1 option, exercisable straight away @ 0.0005c. Say you had 100k originally, you now have 200k OBJOs, and 100k out of that expires still expires on 31st Dec @ $0.01c...so if you want to covert you need to pay $1,000.

That means if you convert the original 100k, you now have 100k heads and 100k options (as the result of mgmt giving a 1 for 1 option). These new options have the excise of 0.01125, which expire in another years time (an additional $1125 due by end of next year).

I dont want to get into the calculations about whether it is worth it or not, but if you take the annoucement as is and not try to look to deep into it for a hidden code, I think it is pretty straight forward. (i.e. where did it mention anything about these new 1 for 1 options extending the current options?)