What is URBO?, page-6

Pretty sure you would have got the form with all the paperwork. The process is easier if you use B-Pay and then dont need the physical form sent off....the form will have their Bpay number and Reference number.
basically,
If the heads get over 1.10 in price then you have a gain and reason to convert the options to heads. otherwise you would be better off buying on market if you think the future looks bright for them.
say the heads get to $1.155 .you can sell the heads and exercise your options for the 5% gain. maintain your number of shares and pull out a bit of profit.
capital gains tax also an issue
if you have converted them from Issuer sponsored into your Chess account they will be there in your port...just under URB as URBO

all IMO please confirm for yourself from with accountant or such

I think you can find more info @ www.investopedia.com about options.