The Company has 61,328,928 Listed Options and 26,900,183...

The Company has 61,328,928 Listed Options and 26,900,183 Unlisted Options to acquire Shares and 33,333,333 Converting Redeemable Preference Shares on issue. To participate in the Entitlement Offer the Options need to be exercised prior to the Record Date. No Offer is being made in respect of the Options or Preference Shares.
Under the terms of the issue of the Listed Options the exercise price of an Option shall be reduced as a result of the Offer according to the formula set out below specified in the ASX Listing Rules:
O? = O ?
N+1
E[P-(S+D)]
O? = the new exercise price of the option.
O = the Old exercise price of the option.
E = the number of underlying securities into which one option is Exercisable.
P = the average market Price per security (weighted by reference to volume) of the underlying securities during the 5 trading days ending on the day before the ex rights date or ex entitlement date.
S = the Subscription price for a security under the pro rata issue.
D = the Dividend (in the case of a trust, Distribution) due but not yet paid on the existing underlying securities (except those to be issued on the pro rata issue).
N = the Number of securities with rights or entitlements that must be held to receive a right to one new security.
The original exercise price of the Listed Options of $0.10 has been reduced by application of the above formula to $0.087. Upon exercise of the Listed Options Option holders receive a Secondary Option. The original exercise price of the secondary Options of $0.125 has been reduced by application of the above formula to $0.112