Re FGROC....IMO existing holders (pre RE) have been disadvantaged. The Company was/is effectively on-hold for 3 months+ due to Covid-19 constraints. Given this, an adjustment to FGROC terms was warranted..eg, extending the option expiry date &/or pushing forward the uplift in the exercise price to 25cents. Had this been done prior to the latest capital raise it would have preserved the attractiveness of the option series and minimised the pain this CR has inflicted on long-term holders....
Raving
Ann: Entitlement Issue Closes Fully Subscribed, page-58
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