Why is letting the ops expire worthless the best option to...

Why is letting the ops expire worthless the best option to shareholders? Exercised options would be a great money influx for the company. Much better than the alternative of flogging cheap shares to 'sophisticated investors' via a rights issue.

I remember when OX had 300mill shares or so and everyone (including myself) were ruing the issue of shares. Look at them today. Its not the dilution thats the issue, its how well the company uses the money from the share issue to increase the wealth of the company.

Share dilution is a given for a company like MPO if you want to maximise your investment.