I have just been told about a precedence by a large shareholder -- where expiring options could be extended further.
ASX Listed, BPH Energy had previously issued options expiring in 2024. The company decided to issue "New Options" with a 1-1 ratio to the existing options. These "New Options" were issued on the last trading day of the previously expiring options, in effect extending the expiry of the option by another 1 year.
This happened last year, this happened on ASX.
https://wcsecure.weblink.com.au/pdf/BPH/02841533.pdf
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