In these extenuating circumstances, where businesses are crippled and at a standstill, it seems appropriate for ASX to be working its @@@ off looking at what it can do to help businesses. Im sure theres a heap of things that can be done, but not sure we've heard much from them.
One such measure that comes to mind is the temporary modification/relaxation of rule 6.23.3 relating to Option terms (listed and unlisted options not ETOs).
Specifically ASX should consider relaxing rule 6.23.3, to allow companies to extend the time frame for exercise of options, and the circumstances under which they can do this.
Companies can then make a decision (with shareholder vote?) as to whether to simply extend the time for exercise of options, or replace existing options for new ones in return for some consideration.
Ive sent ASX a query asking them whether they will relax Listing rule 6.23.3 which prohibits altering Option terms after their issue.
Id be interested to hear peoples views on this.
yes, I hold options (now out of the money) due for expiry this year
yes, I hold options (now out of the money) due for expiry this year
