for those not familiar with their position in this share issue...

for those not familiar with their position in this share issue ...this should help....for a small company like this its most unusual for them to go for a renounceable rights issue instead of the normal non-renounceable rights issue ...
ONe thing I did notice is they have not announced the RECORD DATE....
The rights as you will read are tradeable...so have some value ..to be determined in the marketplace...this may help to keep the price up above the 5c issue mark...as until a RECORD DATE is announced anyone interested in taking up the rights or receiving the rights is most unlikely to be a seller....this is all assuming they didn't make a typo and insted meant non-renounceable rights

the article
Sell your rights to other investors
In some cases, rights are not transferable. These are known as "non-renounceable rights". But in most cases, your rights allow you to decide whether you want to take up the option to buy the shares or sell your rights to other investors or to the underwriter. Rights that can be traded are called "renounceable rights", and after they have been traded, the rights are known as "nil-paid rights".

http://investopedia.com/articles/stocks/05/062905.asp