You cant extend an option exercise date. Its a contract with the company to pay a fixed price at a fixed date into the future. What the company can do however is to write and offer another option with a different price and exercise date in the future.
Anyone holding the June 30th options contract is screwed unless something pretty significant happens before expiry. with the SP at 5.4c who would start converting options to head shares @6.5c now. Maybe they should accept any offer for a TO @8.5c to 10.5c which would then bring the oppies in to play? If the offer does not complete, at least they will have the options money. (just a thought)
