Re- issues of lapsing options are possible- I know that first hand and have seen it happen twice before, with the latest occurring in August 2012 when GTE re-issued GTEOA at a cost of 1 cent. The maximum allowable validity period for a re- issued option is only 1 year and in the case of GTEOA only 6 months was applied for and granted.
I am not sure as to how strict the rules are I.e. can it only be done under certain circumstances or not.For the sake of us all the board, if they have not already done so, should be seriously looking at this option ( no pun intended).
Today's announcement regarding the imminent expiry of MYGOA is purely a mandatory requirement and not necessarily a statement of intent- the board could well have a re-issue planned. Let's hope so- it makes perfect sense as the benefits are obvious.
Given the gravity of the situation the board should...no..must come out and make a public statement on this point. A fair expectation for us "announcement starved "shareholders.
MYG Price at posting:
3.3¢ Sentiment: Hold Disclosure: Held
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