So, for example if I own 1,000,000 LPD shares, I get 111,112...

So, for example if I own 1,000,000 LPD shares, I get 111,112 LPDRB free (which are already in my trading account). I can sell these today and take the $333 (at the current price)

correct

I can also buy another 111,112 at 2.9c (under the offer), or I don't have to?

yes you are entitled to them as long as you dont sell your rights (lpdbr)

or I don't have to?

no you dont have to do anything

you can trade them, buy more and convert, let them expire worthless,

they stop trading on 22nd have to be paid by 29th ..........please double check those dates.

you also get 1 free option for every 2 share you convert through lpdrb, which at current price will be worth 1c and above per option