Been investing 20+ years and bought options way back. Companies can and have reissued options many times in the past and will so in the future and yes it is up to them and need to be voted on and usually it comes at a cost to oppie holders. I have had 5 option series reissued by OBJ twice, MPJ and ECT. The last series of ECT options that expired were then converted by ECT with a loan agreement that holders them had a 3 year period to pay back and release fully paids.
It is not rediculous and is done especially when management have not delivered on anything for a long period leaving option holders caught out. BMG had continually failed in bringing in a project acquisition for years leaving the oppies no hope of being in the money till now with the Chile project. It is completely up to management and they have told me they will not rule it out. I am also a large fully paid holder so yes i risked on oppies but see managements failure for years of bringing in a project as part of the oppie failure. Each to their own opinion and it has been done by many companies in the past where management feel they could give something back after failing to deliver over a period of time. Completely up to management but if they do not consider it it will just be a cross from me as they even used the oppie series on the last placement and stated they would look to reissue them as they were worthless when placed with the fully paid at .009. I took part in that placement and would see management in a different light if they did not consider a reissue. Each to their own and its down to management.
BMG Price at posting:
0.9¢ Sentiment: Buy Disclosure: Held
