Tombu,
Yes it can happen but it is pretty rare. It requires shareholder approval and a good reason, which I can't see in this instance.
More common is the issuing of replacement options to holders of options that expire worthless, but this usually runs into trouble when the holders of FPOs vote against the dilutive effect of supporting those who chose leverage over safety.
Discl: Don't hold the OA's anymore.
Cheers
Badfish
