Nathan, you are not correct when you talk of the current options being an extension of the original ones. Those issued in 2013 were a new issue that had a subscription price of 2c. Holders of the old expired options were offered a preference allocation based on their expired holding. Nathan the following is general comment and not a response to your post.
The current campaign is to have the 2013 options reissued at a nominal price ( they cannot be extended ) based on the fact that due to non-disclosure of certain information option holders have not been able to make an informed decision whether to hold or sell before now and are now faced with illiquidity as the expiry date looms. Additionally time has been unnecessarily wasted by management and Genorah to the tune of around 18 months with disregard for shareholdres and option holders. Option holders are particularly disadvantaged by this. We can talk now that the company may have raised equity via a share issue rather than a new options issue but management went for options and one reason was that there had often been talk of "looking after " the holders of the expired options. The 2013 issue kept the company solvent and those who participated have a legitimate case against management. For anyone who states " why dont option holders just convert before march 31st". For reasons stated above option holders should have been able to make an informed choice during times of higher liquidity but could not. They should not now be faced with only the option of converting in order to keep their options alive. Finally, the person who is doing such a brilliant job in representing share and option holders is incurring considerable legal costs and devoting a great many hours to the cause. He has his own interests at stake and is entitled to protect those interests as he sees fit. Anyone share holder who is happy to be benefitiing from his actions but at the same time begrudges any move to have the options reissued is displaying a level of selfishness that contrasts starkly with the generous actions of the afore mentioned person.
The large unified group of shareholders is on the verge of achieving something historical in terms of shareholders revolt in the context of Australian listed companies thanks pretty much entirely to him.
