How to redeem Shangri-La Golden Circle Points + Less is More promotion + Cash & Points

We highlighted the 1,200 points Shangri-La promotion 2 weeks ago.

Now HeadforPoints sheds some light on how to actually redeem those points.

The reader experience is for the F&B vouchers:

On the day you want to use the voucher you have to take the e-mail to the business centre in the property with photo ID and tell them which venue you're using. They will then input the code on your email and convert this into a paper voucher. This has a local currency equivalent stated and at least in Hong Kong there was no dodgy spread – I think we got HK$778 for every US$100 voucher.
You can only redeem in $50 and $100 lots, so if you want $150 or $200 then you have to apply for multiple vouchers. And as has been noted, the maximum redemption against a single bill is $200.

As for free night stays – Shangri-La is running a reduced award rate promotion (Less is More) and has Cash & Points options as well.

It seems it works out to a 25% reduced rate for award stays between December 10th and February10th.

Given that I only have 200 points in my account it did not let me check Cash & Points options.

Does anyone have enough points to check the rates for Cash & Points?