Wooooo Hooooo Go BPH :)$$$$$$, page-33179

OPTIONS ….TO EXTEND OR NOT TO EXTEND.
I’m still tossing up whether to support or oppose the extension of the BPHOB options. Most options expire unexercised. They’re like a ticket in a raffle. You may win or lose. Some holders of the options choose to trade them, hopefully for a profit and are not really concerned for the future of the company.
BPH has a very large number of options which, if exercised, would significantly dilute the shareholdings of those who hold BPH heads. That is, they will significantly reduce the value of the fully-paid shares. With the high turnover of the options, it is very unlikely there are many original holders of options when they were issued.
ONLY holders of the heads will get to vote on the issue.
The only complication is that the Federal Government, past and present , have treated BPH in a shocking way,..either for political gain and/or to assist their rich mates. Both heads and options holders have been detrimentally affected by them. Shouldn’t the Federal Government be required to pay the price (compensation) to the option holders, not the shareholders?
I have yet to read any convincing arguments from option holders on this issue. Are there significant numbers of long term option holders? Maybe one idea would be that only option holders that have held the BPHOB’s for at least 12 months on expiry would be issued with BPHOC’s.