why option expiry should be extended, page-19

Your still missing the point.

Risky or not some people still made the decision based on the options issued at their time of purchase.

It would be the same as purchasing the heads and then management doing a capital raise shortly after at $0 per share for a material amount of shares. The only difference is option holders have a finite time to trade or sell.

It is not whether or not the oppies will make it into the money. It's the fact that thier value was reduced by the free issue hindering peoples ability to trade/sell them.

Your post suggests you don't own any, so without prejudice, pull your head in.