Magpie. My experience with options and their possible extension...

Magpie. My experience with options and their possible extension is based on just one experience with considerable effort being put in in by me because I had a bundle of them.
ASX were approached,and several financial people I thought might help.I contacted all the large option holders to seek support.The consensus,including good input from ASX was:
* optionholders are not shareholders-they only have an option to buy shares (and become shareholders as a consequence)
*If you arent a shareholder you dont have any say in running the company.
* Optionholders dont usually hold many of them,compared to the numbers of shares that people or institutions hold so they will never win any vote,unless the shareholders are clearly not disadvantaged by the proposal.
* Institutions holdings of shares in a company are likely to vastly exceed any quantum of options they are likely to hold.Many institutions just dont buy options.
Im confident the need to have shareholders approve the extension of options is in the Companies Act and thus bound to be in ASX rules by inference if not specifically mentioned.
Sorry I cant give you more hope. Cheers