No you are correct: http://www.ectltd.com.au/new-bonus-issue/...

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  No you are correct: http://www.ectltd.com.au/new-bonus-issue/
• Date: June 19, 2017
  
  
• Environmental Clean Technologies (ECT or Company) (ASX: ESI) is pleased to announce a 1 for 4 issue of bonus options (Bonus Issue) to eligible shareholders.
  Summary of the Bonus Issue
  • Bonus options (New Bonus Options) will be issued to eligible shareholders on the basis of (1) New Bonus Option (ESIOC) for every four (4) Shares (ESI) held at the Record Date.
  • The Record date for entitlement to New Bonus Options is 5.00pm AEST on 21 July 2017.
  • The Bonus Issue is not extended to persons with registered addresses outside of Australia and New Zealand.
  • Each New Bonus Option entitles the holder to exercise the New Bonus Option for a fully paid ordinary share in ECT at an exercise price of 4.5 cents at any time prior to 5.00pm AEST on 31 July 2019 (Expiry Date).
  • No monies will be raised from the Bonus Issue.
  Eligible shareholders do not need to do anything to receive New Bonus Options under the Bonus Issue.
  Background
  • The Company lodged the Prospectus for the Bonus Issue with ASIC today.
  • A timetable for the Bonus Issue is contained in the Prospectus.
  • Further information on the New Bonus Options may be found on the ASX and Company website.
  and Company website.