I get Matty's point as well DD however I come at this from the perspective that you make investment decisions based on the information you are provided at the time. In the case of the rights issue there was a legally binding undertaking that the options would expire on 31 October 2020. That may have influenced someone's decision, who knows? A lot of water has washed under NOR's bridge since then and many people I'm sure have bought and sold shares and options based on the information provided in the prospectus.
I don't recall anywhere where it said that "Hey, if you still hold unexpired options on their expiry date there's a chance we might issue some new ones to you and at the exclusion of all non option shareholders"
You can't unscramble eggs even if it turns out they weren't what you hoped they'd be. You certainly shouldn't even try if it means the people at the table who made sound menu choices now miss out.
NOR Price at posting:
3.1¢ Sentiment: Sell Disclosure: Not Held
